Location: Belknap County, NH | Metro: Belknap 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 | $1,140 |
| 1 Bedroom | $1,290 |
| 2 Bedrooms | $1,620 |
| 3 Bedrooms | $2,170 |
| 4 Bedrooms | $2,410 |
| 5 Bedrooms | $2,796 |
| 6 Bedrooms | $3,132 |
| 7 Bedrooms | $3,383 |
| 8 Bedrooms | $3,552 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,620 | $571,658 | 0.28% | F |
| 3BR | $2,170 | $772,971 | 0.28% | F |
| 4BR | $2,410 | $1,043,452 | 0.23% | F |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 03810, encompassing Alton, NH, within the Belknap County metro area, presents a unique set of challenges and opportunities for landlords and small-portfolio investors. According to HUD's Fair Market Rent (FMR) data for fiscal year 2026, the maximum allowable rent for a four-bedroom unit in this area is $1,340. However, the lack of specific market rent data for ZIP 03810 makes it difficult to draw a direct comparison between market rents and the HUD FMR.
To determine the viability of cash flowing on Section 8 vouchers, we must consider the median home value in the area, which stands at $683,685. This figure can be used to calculate a rough estimate of the rent-to-price ratio, which is indicative of the rental market's strength relative to property values. A high rent-to-price ratio suggests that rental income can cover mortgage payments and expenses more effectively, whereas a low ratio might indicate that property owners could benefit more from selling their homes rather than renting them out.
Given the high median home value, it is likely that landlords would need to focus on premium units to ensure positive cash flow when relying solely on the HUD FMR of $1,340. The market dynamics in such an affluent area suggest that standard units might not generate sufficient income to cover costs fully, making it necessary to target higher-end properties that can command rents closer to the FMR without compromising on occupancy rates.
The absence of specific median Days on Market (DOM) and percentage of price cuts data further complicates the analysis but does not negate the importance of understanding the broader rent-versus-buy dynamics. In ZIP 03810, the high median home value implies that the local population may have a preference for homeownership over renting, especially considering the potential for significant appreciation in property values.
The strongest angle for investors in this market is appreciation. With the median home value already at $683,685, there is a strong likelihood that property values will continue to rise, providing investors with substantial capital gains over time. Additionally, the demand for rental properties, particularly those that can attract voucher tenants willing to pay up to $1,340 per month, remains steady, ensuring a degree of stability in cash flows for those who can manage to secure premium units.
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.