Location: Coos County, NH | Metro: Coos 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 | $890 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,160 | $220,588 | 0.53% | F |
| 3BR | $1,540 | $292,092 | 0.53% | F |
| 4BR | $1,540 | $313,071 | 0.49% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 03581, which encompasses Gorham, NH, stands at $64,127. At first glance, the market rent of $855 per month, as reported by the Census Bureau's American Community Survey (ACS), seems manageable. However, when we consider the household budget constraints, the reality becomes more nuanced.
A household earning the median income would allocate approximately 30% of their monthly income towards housing, based on common financial advice. This translates to roughly $1,603 per month available for rent and utilities. Given the $855 market rate, a family might feasibly cover rent without significant strain. Yet, the situation changes dramatically when comparing against the Fair Market Rent (FMR) standard set at $1,100 per month for metro areas in fiscal year 2026.
The disparity between the $855 market rate and the $1,100 FMR highlights a notable affordability gap. This gap suggests that many renters in Gorham may struggle to find housing that meets the FMR, potentially leading to increased competition among landlords willing to accept Section 8 vouchers. With 26.3% of the population renting and a total population of 3,246, there are roughly 853 renters in Gorham who could be looking for affordable options.
Landlords in Gorham must weigh the benefits of accepting Section 8 vouchers against cash-paying tenants. While vouchers ensure timely payments at a fixed rate of $1,100, they also require compliance with HUD standards and can limit the pool of potential tenants. Cash-paying tenants, on the other hand, offer flexibility but come with the risk of non-payment and varying rent amounts.
Takeaway: For landlords considering their strategy, accepting Section 8 vouchers can provide a steady stream of income and access to a segment of the market that might otherwise be unable to afford local rents. However, it's crucial to understand the additional responsibilities and potential limitations. Landlords should evaluate their property management capabilities and financial needs before deciding on a rental strategy that best suits their goals in Gorham, NH.
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.