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 economics of Section 8 in ZIP code 03843, located in Portsmouth-Rochester County, New Hampshire, are straightforward. For a two-bedroom rental unit, the SAFMR (Small Area Fair Market Rent) is set at $2130 per month for fiscal year 2024. This figure is specific to this ZIP code, reflecting the localized cost of housing.
A voucher holder pays 30% of their adjusted monthly income towards rent. If we assume an average adjusted income of $1600 for simplicity, the tenant's contribution would be $480 per month. This leaves the remaining amount to be covered by the Section 8 program.
The Section 8 program will reimburse the landlord up to the SAFMR limit, which is $2130 in this case. However, the reimbursement is calculated as the difference between the SAFMR and the tenant's contribution. So, if the tenant contributes $480, the program will pay the landlord the rest of the SAFMR, which is $1650 ($2130 - $480).
In addition to the base rent, there are utility allowances that can vary based on the type of utilities used in the property. These allowances are designed to help cover the costs of electricity, gas, water, and other essential services. Utility allowances are typically around $300-$400 per month, depending on the specifics of the property and the family's needs.
Therefore, the total reimbursement a landlord can expect for a two-bedroom apartment under Section 8 in ZIP 03843 is approximately $1950-$2050 per month. This calculation includes the base rent reimbursement of $1650 plus a utility allowance of $300-$400.
Given that the local market rent data is currently unavailable, it is important to note that the SAFMR sets a cap on the rent that can be charged. Landlords should ensure that their rental properties are priced competitively within the SAFMR limit to attract tenants. In ZIP 03843, the typical reimbursement gap or surplus for a two-bedroom voucher would mean that landlords receive slightly less than the SAFMR due to the tenant's contribution and utility allowances. Thus, landlords should budget accordingly, understanding that they will not receive the full $2130 from the program alone but rather a combination of the tenant's payment and the program's reimbursement.
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.