Location: Carroll County, NH | Metro: Carroll 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 | $1,080 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,560 |
| 5 Bedrooms | $2,970 |
| 6 Bedrooms | $3,326 |
| 7 Bedrooms | $3,592 |
| 8 Bedrooms | $3,772 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,540 | $497,144 | 0.31% | F |
| 3BR | $2,120 | $559,996 | 0.38% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 03830, which encompasses Wakefield, NH, and parts of Carroll County, revolve around the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, set at $1,350 for fiscal year 2026. This SAFMR figure is specifically tailored for this ZIP code, reflecting local rental market conditions more accurately than broader regional averages.
A landlord participating in the Section 8 program receives payments based on a combination of the SAFMR and the tenant's portion of the rent. The tenant is required to pay 30% of their adjusted income towards rent. For instance, if a tenant's adjusted monthly income is $1,000, they would contribute $300 toward the rent. The remaining amount is covered by the housing authority up to the SAFMR limit of $1,350.
In addition to the base rent, utility allowances are also factored into the total payment. These allowances vary but are generally set to cover average utility costs in the area. If we assume an average utility allowance of $250 per month, the total reimbursement a landlord might receive for a two-bedroom unit could be calculated as follows:
If the tenant contributes $300 and the utility allowance is $250, the housing authority would cover the rest, up to the maximum of $1,350. Therefore, the landlord would receive $1,050 from the housing authority plus the $300 from the tenant, totaling $1,350.
The SAFMR of $1,350 is the cap, meaning even if the local market rent is higher, the housing authority will only reimburse up to this amount. In ZIP 03830, the local market rent for a two-bedroom apartment is currently not available; however, it is crucial for landlords to understand that if the market rent exceeds $1,350, they will face a shortfall. Conversely, if the market rent is lower, they may have a surplus, but it is unlikely given the high SAFMR relative to typical local rents.
To illustrate, if the local market rent for a two-bedroom apartment is $1,500, the landlord would need to accept a reimbursement of only $1,350, resulting in a shortfall of $150 per month. On the other hand, if the market rent is $1,200, the landlord would receive the full $1,200 from the tenant and housing authority combined, without any surplus since the reimbursement does not exceed the SAFMR.
In summary, landlords in ZIP 03830 should expect a reimbursement close to the SAFMR of $1,350 for a two-bedroom apartment, with the exact amount depending on the tenant's income and utility usage. Given the lack of current local market rent data, it is prudent to anticipate a potential shortfall unless the market rent is below the SAFMR.
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.