Location: Portsmouth-Rochester, NH | Metro: Portsmouth-Rochester, NH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,540 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $2,170 |
| 3 Bedrooms | $2,590 |
| 4 Bedrooms | $2,920 |
| 5 Bedrooms | $3,387 |
| 6 Bedrooms | $3,793 |
| 7 Bedrooms | $4,096 |
| 8 Bedrooms | $4,301 |
The analysis of ZIP 03802, located within the Portsmouth-Rochester, NH HUD Metro FMR Area, reveals several critical points for landlords and small-portfolio investors considering this market.
First, regarding the rent math, the Fair Market Rent (FMR) for ZIP 03802 in fiscal year 2024 is set at $2130. However, without specific market rent data, it's impossible to directly compare FMR to actual market rates. This gap suggests that landlords should conduct thorough local research to ensure their rental pricing aligns with both the FMR and the prevailing market conditions.
Second, on the affordability of acquisitions, the lack of data on median home values, days on market (DOM), and the percentage of homes needing price cuts makes it challenging to assess the ease or difficulty of purchasing properties in this area. Investors should seek out detailed local real estate reports to fill these informational gaps before making any investment decisions.
Third, concerning tenant demand, the absence of specific population and renter share data means that the potential pool of tenants cannot be accurately quantified. Landlords and investors need to understand the local demographic trends to gauge how many people might be looking for rentals and whether they can afford the $2130 FMR.
Verdict: The Portsmouth-Rochester, NH HUD Metro FMR Area, specifically ZIP 03802, presents an opportunity for landlords and small-portfolio investors, but only if they can secure accurate and up-to-date local data. With a defined FMR of $2130, the focus must shift to understanding the current market rents, median home values, days on market, and the percentage of homes that require price reductions. Similarly, without knowing the exact population and the percentage of renters, investors must gather precise local insights to determine the viability of this ZIP code for Section 8 investments. In conclusion, while the framework is present with the FMR, the decision to invest hinges critically on obtaining comprehensive local data to make informed judgments about rent feasibility, acquisition costs, and tenant demand.
Data Sources: FMR data from HUD (2027).
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.