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 | $1,030 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,030 | $168,121 | 0.61% | D |
| 2BR | $1,340 | $262,181 | 0.51% | F |
| 3BR | $1,770 | $327,588 | 0.54% | F |
| 4BR | $1,770 | $364,667 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 03588, located in Milan, NH, stands out within Coos County due to its unique demographic and economic characteristics. With a population of 1,633 residents, only 11.6% of whom rent their homes, it reflects a predominantly owner-occupied community. The median income here is $71,538, which is relatively high compared to the national average, indicating a financially stable populace. However, the median home value at $273,832 is significantly lower than other areas in New Hampshire, suggesting a more affordable housing market.
Milan's rental market dynamics are particularly interesting when considering the Section 8 voucher program. The Fair Market Rent (FMR) for a metro area like Milan is set at $1,480 per month for fiscal year 2026, whereas the actual market rent, according to Census ACS data, is much lower at $877 per month. This disparity presents a significant opportunity for landlords and small-portfolio investors. By accepting Section 8 vouchers, landlords can benefit from higher rental payments that exceed the local market rate, thereby increasing their revenue streams and potentially enhancing their property management profitability.
Given the data signature of ZIP 03588, the overall picture appears stable. The low percentage of renters and the modest median home value suggest a community where homeownership is the norm, and there is little indication of rapid change or transition. For those interested in leveraging the Section 8 program, Milan offers a solid foundation with its balanced economy and reasonable cost of living, making it an attractive option for long-term investment.
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.