Location: Windham County, VT | Metro: Windham County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,190 |
| 1 Bedroom | $1,290 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $1,900 |
| 4 Bedrooms | $2,360 |
| 5 Bedrooms | $2,738 |
| 6 Bedrooms | $3,067 |
| 7 Bedrooms | $3,312 |
| 8 Bedrooms | $3,478 |
U.S. Census Bureau data (2024)
The ZIP code 05359, located in West Townshend, Vermont, presents an interesting scenario for both renters and landlords. The median household income in this area stands at $80,417. Considering the market rate for rent is $1,161 (as per Census ACS data), it becomes evident that a significant portion of the monthly income would be allocated towards housing expenses. This equates to approximately 17% of the median income being spent on rent, which is manageable but tight.
In contrast, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,490. This means that if a household relies on a Section 8 voucher, they are potentially looking at a rent amount that exceeds the market rate by over $300. Given that only 16.7% of the 757 residents are renters, the competition among landlords is relatively low, allowing for more flexibility in pricing and tenant selection.
The affordability gap between the market rate and the FMR is substantial. It suggests that while some households might be able to afford the market rate, those relying on Section 8 vouchers could struggle to find suitable rental properties within the ZIP code. This situation creates a unique challenge for landlords, who must weigh the benefits of accepting higher voucher payments against the potential of renting to cash-paying tenants who might prefer lower rates.
Takeaway for landlords: Accepting Section 8 vouchers could provide a steady stream of income, albeit at a slightly higher rate than the current market. However, given the limited number of renters, focusing on cash-paying tenants who can manage the market rate might offer better opportunities for occupancy and reduced administrative overhead. Landlords should consider their long-term goals and the dynamics of the local rental market when deciding on their strategy.
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.