Location: Sullivan County, NH | Metro: Sullivan 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 | $1,100 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $2,180 |
| 4 Bedrooms | $2,430 |
| 5 Bedrooms | $2,819 |
| 6 Bedrooms | $3,157 |
| 7 Bedrooms | $3,410 |
| 8 Bedrooms | $3,581 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,580 | $283,428 | 0.56% | F |
| 3BR | $2,180 | $330,279 | 0.66% | D |
| 4BR | $2,430 | $366,656 | 0.66% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP 03603, located in Charlestown, NH, within the Sullivan County, NH metro area, reveals several key points for landlords and small-portfolio investors. Firstly, the rent math does not favor landlords. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,710, whereas the actual market rent, according to Census ACS data, is only $1,096. This significant gap indicates that landlords would need to either reduce their rental expectations or find ways to decrease operating costs to achieve profitability.
Secondly, the acquisition cost of properties in this ZIP code is relatively high, with a median home value of $299,973. Given that the days on market (DOM) and the percentage of homes requiring price cuts are not available, it's challenging to assess the exact affordability of acquisitions. However, the high median home value suggests that purchasing properties could be a substantial investment, especially considering the lower-than-expected rental income.
Lastly, the tenant demand is moderate. With a total population of 5,238 and a renter share of 19.4%, there are approximately 1,015 potential renters in the area. This number is sufficient to support a rental market but may limit the scale of investment opportunities for larger portfolios.
In conclusion, while ZIP 03603 offers a stable environment with a moderate tenant base, the economics of renting do not align well with the high property values and lower market rents. Landlords and investors should carefully evaluate the potential returns against the acquisition costs before committing to investments in this area. The verdict leans towards caution due to the disparity between expected and actual rental incomes.
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.