Location: Rutland County, VT | Metro: Bennington County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,190 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $1,960 |
| 4 Bedrooms | $2,330 |
| 5 Bedrooms | $2,703 |
| 6 Bedrooms | $3,027 |
| 7 Bedrooms | $3,269 |
| 8 Bedrooms | $3,432 |
U.S. Census Bureau data (2024)
The median income in ZIP code 05251 stands at $151,163, which provides a solid financial cushion for residents. However, when it comes to housing costs, the reality is stark. The market rate for rent is set at $1,942, according to Census ACS data. This figure represents a significant portion of the average household's income, potentially making market-rate rents unaffordable for many.
In contrast, the Housing Choice Voucher program offers a more accessible alternative. The Fair Market Rent (FMR) for the area, as determined for metro FY 2026, is $1,300. This means that voucher holders can secure housing at a much lower cost compared to the market rate, reducing the financial burden on households.
The ZIP code has a relatively low percentage of renters at 6.9%, indicating a smaller pool of potential tenants. Given the total population of 1,674, landlords must carefully consider their target audience to ensure they are maximizing occupancy and returns. The disparity between the market rate ($1,942) and the voucher payment standard ($1,300) highlights a notable affordability gap that could impact landlord competition and tenant selection.
Landlords considering their strategy should weigh the benefits of accepting vouchers against the allure of cash-paying tenants. While cash-paying tenants might offer higher rental income, the limited number of renters in the area means that relying solely on them could leave properties vacant longer. On the other hand, accepting vouchers can fill units faster but at a lower price point. Landlords must balance these factors to make an informed decision.
The takeaway is clear: in ZIP 05251, landlords have a strategic choice to make. Accepting vouchers ensures quicker unit occupancy and supports a broader range of residents, albeit at a lower rent of $1,300. Opting for cash-paying tenants could yield higher monthly rents closer to the $1,942 market rate, but landlords risk prolonged vacancies due to the limited number of renters and high cost relative to income.
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.