Location: Cheshire County, NH | Metro: Cheshire County, NH
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,400 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,630 |
| 4 Bedrooms | $2,660 |
| 5 Bedrooms | $3,086 |
| 6 Bedrooms | $3,456 |
| 7 Bedrooms | $3,732 |
| 8 Bedrooms | $3,919 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,010 | $322,652 | 0.62% | D |
| 3BR | $2,630 | $410,390 | 0.64% | D |
U.S. Census Bureau data (2024)
The ZIP code 03448, located in Gilsum, NH, presents an interesting scenario when analyzed from the perspective of renters. The median household income in this area stands at $80,417, according to the latest Census American Community Survey (ACS) data. Given the market rate for rent is $1,575, it becomes evident that the average household can indeed afford the rent without financial strain. This makes the area attractive for those seeking housing.
However, comparing the market rate to the Fair Market Rent (FMR) standard set by the federal government for fiscal year 2026, which is $2,230, reveals a significant disparity. The FMR is notably higher than the actual market rate, indicating that the government's assessment of rental costs in this region exceeds what the local economy supports. This suggests that while voucher holders have substantial purchasing power, they might face challenges finding properties within their budget.
The rental market in 03448 is relatively small, with only 6.5% of the 716 residents being renters. This low percentage of renters means that the competition among landlords is likely to be fierce for the limited number of tenants available. The affordability gap between the market rate and the FMR highlights a potential strategy for landlords: focusing on cash-paying tenants who are already comfortable with the local rent prices, rather than voucher recipients who might struggle to find properties within their voucher limits.
For landlords considering whether to accept vouchers or focus on cash-paying tenants, the key takeaway is that the current market conditions favor cash payments. With the median income comfortably covering the $1,575 market rate, there is a stable pool of renters willing to pay the going rate. On the other hand, the discrepancy between the market rate and the FMR could lead to difficulties in attracting voucher holders, as their allowances might not align with the local rental landscape. Landlords should weigh these factors carefully and consider the dynamics of both the local economy and federal housing policies when deciding their rental strategies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.