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 | $1,290 |
| 1 Bedroom | $1,420 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,430 |
| 4 Bedrooms | $2,440 |
| 5 Bedrooms | $2,830 |
| 6 Bedrooms | $3,170 |
| 7 Bedrooms | $3,424 |
| 8 Bedrooms | $3,595 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,860 | $381,463 | 0.49% | F |
| 3BR | $2,430 | $486,723 | 0.5% | F |
| 4BR | $2,440 | $585,256 | 0.42% | F |
U.S. Census Bureau data (2024)
The Section 8 program in ZIP code 03462, specifically in Chesterfield, NH, presents a unique opportunity for real estate investors. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $2,030. However, the current market rent for Chesterfield, NH, is not available, which suggests that the FMR might be higher than what the market currently dictates. This gap is significant because it directly impacts the potential rental income for landlords who accept housing vouchers.
In the scenario where the FMR exceeds the market rent, landlords can benefit from accepting Section 8 tenants. These tenants provide a guaranteed income stream based on the FMR, which is higher than what could be achieved through traditional market rentals. Given that 25.1% of residents in Chesterfield are renters, and the median home value stands at $468,297, the presence of voucher holders can stabilize cash flow and reduce vacancy rates. The median household income in Chesterfield is $115,313, indicating that the local economy supports higher-end housing, but the rental market remains competitive.
If the FMR were lower than the market rent, landlords would face a different challenge. Accepting housing vouchers would mean renting properties at below-market rates, potentially reducing profit margins. The difference between the FMR and the actual market rent would represent the cost of housing voucher tenants. For instance, if the market rent were $2,200, the landlord would be renting out their property for $170 less than the market rate, a reduction of approximately 8.2%. This scenario would require careful consideration of the overall investment strategy, especially given the high median home value and the relatively high median income of the area.
To conclude, the effectiveness of the Section 8 program for landlords in Chesterfield, NH, depends on the relationship between the FMR and the current market rent. With the FMR at $2,030, landlords have a clear figure to work with, even though the market rent is not specified. This can serve as a benchmark for assessing whether the program offers a yield play or comes with the cost of renting below market rates. In either case, the local economic context—characterized by a significant percentage of renters, high median home values, and substantial median incomes—should inform the decision-making process.
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.