Location: Burlington-South Burlington, VT | Metro: Burlington-South Burlington, VT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,730 |
| 1 Bedroom | $1,920 |
| 2 Bedrooms | $2,420 |
| 3 Bedrooms | $3,060 |
| 4 Bedrooms | $3,180 |
| 5 Bedrooms | $3,689 |
| 6 Bedrooms | $4,132 |
| 7 Bedrooms | $4,463 |
| 8 Bedrooms | $4,686 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 05405 in Windham County, Vermont, for fiscal year 2024 is set at $2030. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you'll receive; it's the payment standard used to calculate the subsidy paid to tenants.
To clarify, if your property qualifies for Section 8, the Housing Authority will pay a portion of the rent based on the tenant's income, up to the FMR of $2030. The tenant pays the remainder, which is typically 30% of their adjusted income. For example, if a tenant's monthly income is $1500, they would pay approximately $450 towards rent, and the Housing Authority would cover the rest up to the $2030 limit.
The local median gross rent is listed as N/A, which makes it difficult to compare directly against the FMR. However, the fact that the renter share is 0.0% indicates there is currently no demand for Section 8 vouchers in this area. This could mean that either very few people are applying for vouchers, or the local housing market is not utilizing the Section 8 program extensively. Landlords should be cautious about relying solely on Section 8 for new rentals given this lack of demand.
The acquisition cost, also listed as N/A, would typically help determine how much you could reasonably charge for rent while still qualifying for the program. Since this data point is unavailable, landlords must rely on other sources to ensure their rent does not exceed the $2030 FMR. One clear action step before proceeding is to contact the local Housing Authority to confirm the current demand and any specific requirements for properties in ZIP 05405.
In summary, while the $2030 FMR provides a ceiling for rent under the Section 8 program, the lack of demand and missing local rent data suggest that landlords need to proceed with caution. Verifying the details with the local Housing Authority is crucial before making the decision to enter the Section 8 market.
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.