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 |
The analysis of ZIP code 03866 within the Portsmouth-Rochester, NH HUD Metro FMR Area reveals several key points that are crucial for landlords and small-portfolio investors.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for ZIP 03866 in fiscal year 2024 is set at $1880. However, without specific market rent data, it's challenging to determine if this figure aligns with what tenants are willing to pay. Landlords should conduct further local research to ensure that the FMR is competitive with market rates.
Moving on to acquisition affordability, the lack of specific data on median home values, days on market (DOM), and the percentage of homes that require price cuts makes it difficult to assess the ease of purchasing properties in this area. Investors will need to consult local real estate agents or online platforms for current pricing trends and seller behavior to gauge how affordable property acquisition might be.
Regarding tenant demand, the absence of specific population and renter share data means that the potential for finding tenants who qualify for Section 8 housing assistance cannot be accurately assessed. It is essential for investors to understand the local demographics and the proportion of residents who are renters to predict the likelihood of maintaining occupancy levels.
In summary, while the FMR provides a benchmark for rental income, the lack of detailed market data on home values, DOM, price-cut shares, and tenant demographics hinders a comprehensive evaluation of ZIP 03866 for Section 8 investments. To make informed decisions, landlords and investors must seek out additional local insights to fill these informational gaps.
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.