Location: Portsmouth-Rochester, NH | Metro: Portsmouth-Rochester, NH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,450 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,980 |
| 3 Bedrooms | $2,430 |
| 4 Bedrooms | $2,650 |
| 5 Bedrooms | $3,074 |
| 6 Bedrooms | $3,443 |
| 7 Bedrooms | $3,718 |
| 8 Bedrooms | $3,904 |
To determine if a landlord should invest in ZIP 03815 (Unknown, NH) for Section 8 properties, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $1880 cover debt service on a property?
No specific property value or debt service figure is provided, so this question cannot be answered definitively. However, if the landlord's debt service per unit is higher than $1880, then the answer is no. The FMR represents the maximum amount that can be charged for Section 8 housing, and if this does not exceed the landlord's debt service, investing would not be financially viable.
2) Is the market rent above, at, or below the FMR?
The data does not specify the current market rent for ZIP 03815. If the market rent is above $1880, landlords might prefer renting to non-Section 8 tenants to maximize income. If market rent is at or below $1880, Section 8 properties could be competitive or even preferable.
3) Are there sufficient renters and days on the market (DOM) to meet demand?
The data lacks specifics on the percentage of renters and the average DOM. To make an informed decision, landlords need to assess if the local rental market has enough demand to fill Section 8 units. If the percentage of renters is high and the DOM is low, it suggests strong demand. Conversely, if the percentage of renters is low and DOM is high, demand is insufficient.
Based on the available information, a landlord should proceed with caution. Without concrete figures on property values, debt service, market rents, and rental demand metrics, it's impossible to give a definitive yes or no. The landlord must gather additional local market data to accurately evaluate these factors.
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.