Section 8 Fair Market Rent (FMR) for ZIP 05047 - 2027

FY 2027 Fair Market Rent Rates

The potential pitfalls of investing in ZIP 05047 under the Section 8 program are significant. First, tenant turnover can be a challenge due to the discrepancy between the local market rent and the Fair Market Rent (FMR) set by HUD. For fiscal year 2026, the FMR for the metro area is $1,360, but without specific data on the local market rent, it's unclear how this compares, potentially leading to higher turnover rates if tenants find better deals elsewhere.

Vacancy exposure is another concern. With no data available on the days on market (DOM), it's difficult to assess how long properties might remain vacant. This uncertainty can translate into lost rental income and increased maintenance costs, especially when combined with the lack of information on typical home values and median incomes in the area. Without these metrics, it's impossible to gauge the financial health of potential tenants and their ability to maintain the property in good condition.

Despite these risks, there is a silver lining. The high renter share in ZIP 05047 suggests a strong demand for rental housing, which typically translates into a robust demand for Section 8 vouchers. However, the absence of specific percentages for the renter share makes it challenging to quantify this advantage accurately. High renter density can mitigate some of the risks associated with vacancy and deferred maintenance, as there is a larger pool of potential tenants who may be interested in the Section 8 program.

Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 05047.

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.