Location: Portsmouth-Rochester, NH | Metro: Portsmouth-Rochester, NH HUD Metro FMR Area
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 | $1,880 |
| 1 Bedroom | $1,970 |
| 2 Bedrooms | $2,570 |
| 3 Bedrooms | $3,150 |
| 4 Bedrooms | $3,440 |
| 5 Bedrooms | $3,990 |
| 6 Bedrooms | $4,469 |
| 7 Bedrooms | $4,827 |
| 8 Bedrooms | $5,068 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,150 | $767,546 | 0.41% | F |
| 4BR | $3,440 | $1,098,502 | 0.31% | F |
U.S. Census Bureau data (2024)
The ZIP code 03856, with a population of 2,023, is characterized by a low percentage of renters at just 4.7%. This indicates that the area is primarily dominated by homeowners rather than renters, suggesting that the demand for rental properties, especially those utilizing Section 8 vouchers, is likely to be limited.
The median household income in this ZIP is quite high at $197,885. When compared to the market rent of $1,875, it's evident that rental costs represent a very small portion of the average income. In fact, typical rent eats up only about 1.1% of the local median income. This makes the area financially attractive for potential tenants who can afford market rates without needing assistance.
However, for those interested in Section 8 tenants, the Fair Market Rent (FMR) set at $2,680 for FY 2024 is notably higher than the current market rent. This suggests that landlords could potentially benefit from the program as it allows rents up to $2,680, which is significantly above the current market rate. Landlords might find that they can attract tenants willing to pay higher rents through the voucher program, thus increasing their revenue beyond typical market conditions.
The tenant profile in this area will likely reflect a mix of individuals and families who either have higher incomes and can afford market rents or those who are seeking assistance through Section 8. Given the high median income, landlords should expect tenants who are financially stable and capable of meeting their obligations, albeit with a smaller pool of potential Section 8 participants due to the low overall renter percentage.
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.