Section 8 Fair Market Rent (FMR) for ZIP 03301 - 2027
Location: Merrimack County, NH | Metro: Merrimack County, NH
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,300 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,870 |
| 3 Bedrooms | $2,450 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$86,840
Housing Authorities Serving ZIP 03301
To determine if you should buy in ZIP 03301 (Concord, NH) for Section 8 investments, follow this decision tree:
- Does FMR $2,040 (metro FY 2026) clear debt service on a $461,394 property?
- If yes: The Fair Market Rent (FMR) of $2,040 is sufficient to cover the debt service on a property valued at $461,394. This indicates that the rental income can support the mortgage payments.
- If no: The FMR of $2,040 does not clear the debt service on a property priced at $461,394. This suggests that the rental income may be insufficient to cover the mortgage payments, making it a less viable investment.
- Is market rent $1,849 (ZORI) above, at, or below FMR?
- If market rent is above FMR: The Zillow Observed Rent Index (ZORI) of $1,849 is below the FMR of $2,040, indicating that the market rent is lower than what Section 8 tenants would pay. This could make Section 8 properties more attractive compared to non-Section 8 rentals.
- If market rent is at or near FMR: The ZORI of $1,849 is close to the FMR of $2,040, meaning that market rents are nearly equal to what Section 8 tenants would pay. This parity might not provide a strong incentive to invest in Section 8 properties over market-rate rentals.
- If market rent is below FMR: Since the ZORI of $1,849 is already below the FMR of $2,040, this scenario is already met. It means that Section 8 properties offer higher guaranteed rent compared to market-rate properties, which could be beneficial.
- Are 44.5% renters + 8-day DOM enough demand?
- If yes: With 44.5% of residents being renters and an average of 8 days on the market (DOM), there is a steady demand for rental properties. This combination suggests a healthy rental market where properties are likely to be occupied promptly.
- If no: Even with 44.5% of residents being renters and an 8-day DOM, the demand is considered sufficient. However, if other factors such as economic downturns or high vacancy rates are present, the decision might lean towards no.
- If it depends: The 44.5% rental rate and 8-day DOM indicate a robust demand, but other variables like the local unemployment rate, population growth, and competition from new developments must also be considered. A detailed analysis of these factors will determine the final viability.
The decision to invest in ZIP 03301 for Section 8 properties hinges on the answers to these three questions. If all conditions point towards a positive outcome, the investment is advisable. Otherwise, further investigation into the specifics of the market and individual property costs is recommended.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.