Location: Sullivan County, NH | Metro: Grafton 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 | $1,410 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,960 |
| 3 Bedrooms | $2,680 |
| 4 Bedrooms | $2,880 |
| 5 Bedrooms | $3,341 |
| 6 Bedrooms | $3,742 |
| 7 Bedrooms | $4,041 |
| 8 Bedrooms | $4,243 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,960 | $421,425 | 0.47% | F |
| 3BR | $2,680 | $537,074 | 0.5% | F |
| 4BR | $2,880 | $667,941 | 0.43% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 03753, encompassing Grantham, NH, and the broader Sullivan County, NH metro area, reveals several key points regarding its viability for Section 8 real-estate investments.
First, let's examine whether the rent math works. The Fair Market Rent (FMR) for the Sullivan County, NH metro area in fiscal year 2026 is set at $2,170. However, the lack of available market rent data means that we cannot directly compare it against current market rates. This absence of comparison data leaves uncertainty about how well the FMR aligns with what tenants might actually pay in the current market.
Second, the acquisition cost must be considered. The median home value in ZIP 03753 stands at $495,557. Without specific data on the days on market (DOM) or the percentage of homes that have been subject to price cuts, it's challenging to determine if acquiring a property at this median value would be affordable or if it represents a competitive price point in the local real estate market.
Lastly, we need to assess tenant demand. With a population of 3,509, only 0.2% of residents are renters. This low percentage suggests a limited pool of potential Section 8 tenants, which could pose challenges in finding qualified applicants and maintaining occupancy levels.
Verdict: While the FMR of $2,170 provides a clear rental income target, the absence of market rent data and specifics on acquisition affordability introduces significant uncertainty. Moreover, the extremely low renter share of 0.2% in a small population base of 3,509 implies a weak tenant demand. These factors collectively suggest that ZIP 03753 may not be an optimal location for Section 8 real-estate investments due to the potential difficulties in securing qualified tenants and achieving a competitive acquisition price.
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.