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 | $1,360 |
| 1 Bedroom | $1,500 |
| 2 Bedrooms | $1,960 |
| 3 Bedrooms | $2,570 |
| 4 Bedrooms | $2,580 |
| 5 Bedrooms | $2,993 |
| 6 Bedrooms | $3,352 |
| 7 Bedrooms | $3,620 |
| 8 Bedrooms | $3,801 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,960 | $457,095 | 0.43% | F |
| 3BR | $2,570 | $512,591 | 0.5% | F |
U.S. Census Bureau data (2024)
The ZIP code 03457, located in Nelson, NH, has a population of 802 residents. Only 11.1% of these residents are renters, indicating that this area is primarily dominated by homeowners rather than renters. This suggests that the demand for rental properties, particularly those accepting Section 8 vouchers, is relatively low compared to areas with higher percentages of renters.
The median household income in this ZIP code stands at $100,625, which is quite high. When considering a market rent of $1,250, this represents approximately 15% of the median income. However, the Fair Market Rent (FMR) for the metro area, set at $2,080 for FY 2026, is significantly higher than the market rent observed in ZIP 03457. This discrepancy implies that the rental market in Nelson is below the FMR, potentially making it less attractive for tenants seeking Section 8 vouchers who might have higher budgets due to the FMR guidelines.
A landlord in this area can expect tenants who are likely to be financially stable given the high median income. However, the scarcity of renters means that the competition for Section 8 vouchers is lower. The typical rent of $1,250 consumes a smaller portion of the local income, making it easier for potential tenants to cover living expenses beyond just rent. Landlords should prepare for a tenant pool that is smaller but potentially more financially secure, with a focus on meeting the needs of those who prefer or require the lower rent environment despite the higher FMR in the surrounding metro area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.