Section 8 Fair Market Rent (FMR) for ZIP 04539 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

A skeptical investor considering ZIP 04539 might have several concerns:

• Will FMR $1,400 (metro FY 2026) cover the mortgage on a $501,465 home?: The Fair Market Rent (FMR) of $1,400 is a guideline set by HUD for determining the maximum rent that can be charged for subsidized units. However, it does not directly translate to mortgage coverage. To determine if the FMR will cover the mortgage, one needs to consider the prevailing interest rates and the typical down payment amount. As of the recent data, the median home price in 04539 is around $491,068, suggesting that a $501,465 home is slightly above average. A conservative estimate using a 30-year fixed-rate mortgage at 5% interest with a 20% down payment would result in monthly payments of approximately $1,900, including principal, interest, taxes, and insurance. This means that the FMR of $1,400 alone would not cover the mortgage, but it could be supplemented by additional income sources.
• Is there enough renter demand at 8.6%?: The rental demand rate of 8.6% indicates that there is a moderate level of interest from renters in the area. While this percentage suggests some demand, it is not exceptionally high. However, given the median home price and the somewhat competitive housing market, landlords can expect steady demand for rental properties. The competition score of 63 out of 100 suggests that homes typically take about 55 days to sell, indicating a balanced market where both buyers and renters are present. Therefore, while the demand rate is not extremely high, it is sufficient to maintain a stable rental market.
• Will vouchers keep pace with $1,093 market rents?: The market rent of $1,093 is a key figure when evaluating the potential for voucher programs to cover rental costs. Vouchers are designed to ensure affordable housing, but their adequacy depends on the specific terms and availability of the program. Given the FMR of $1,400, it is reasonable to assume that vouchers could potentially cover a significant portion of the $1,093 market rent. However, the exact amount covered by vouchers varies based on individual circumstances and the specifics of the voucher program. Landlords should review the details of the voucher program to understand how well it aligns with market rents.

The data provides insights into the housing market dynamics of ZIP 04539, but it does not fully address all investor concerns. For instance, the exact mortgage coverage cannot be determined without current interest rates, and the voucher adequacy requires a deeper dive into the specific program details.

Data Sources: FMR data from HUD (2027). 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.