Location: Orange County, VT | Metro: Orange County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,390 |
| 1 Bedroom | $1,740 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,550 |
| 4 Bedrooms | $2,710 |
| 5 Bedrooms | $3,144 |
| 6 Bedrooms | $3,521 |
| 7 Bedrooms | $3,803 |
| 8 Bedrooms | $3,993 |
U.S. Census Bureau data (2024)
In ZIP code 05038, Vermont, there are several key factors that could pose challenges for a first-time Section 8 landlord. The market rent stands at $1,567, while the Fair Market Rent (FMR) for fiscal year 2026 is set at $1,420. This discrepancy indicates a potential issue with tenant turnover, as landlords might struggle to attract tenants willing to pay the lower FMR rate. Additionally, the vacancy exposure is significant due to the lack of available data on days on market (DOM), suggesting difficulties in filling vacancies quickly.
The typical home value in this area is $291,787, which is relatively high compared to the median income of $62,000. This can lead to deferred maintenance issues, as residents might find it challenging to afford necessary repairs and upkeep. High property values combined with moderate incomes can also mean that tenants are less likely to be able to cover any unforeseen costs, increasing the burden on landlords to maintain the properties to acceptable standards.
However, these risks must be weighed against the strong presence of renters in the area. With a 17.3% renter share, there is a higher likelihood of demand for rental properties, including those that accept Section 8 vouchers. A dense population of renters often translates into a steady pool of potential tenants, which can mitigate some of the risks associated with vacancy and turnover.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 05038, VT, is moderate. While there are notable risks related to tenant turnover and maintenance, the high renter density offers a counterbalance, ensuring a reasonable level of demand for affordable housing options.
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.