Location: Lamoille County, VT | Metro: Burlington-South Burlington, VT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,350 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,480 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
U.S. Census Bureau data (2024)
In ZIP code 05464, there are several potential risks for landlords considering Section 8 investments. Firstly, tenant turnover could be an issue, as the market rent stands at $1,186 compared to the $1,500 Fair Market Rent (FMR) for fiscal year 2024. This disparity indicates that tenants might seek higher rental subsidies, leading to frequent moves and higher turnover rates.
Vacancy exposure is another concern, given the lack of data on the number of days on market (DOM). Without knowing how long properties typically remain vacant, it's difficult to predict the financial impact of periods without tenants paying rent. However, the typical home value of $376,231 and the median income of $85,694 suggest that homeownership may be out of reach for many residents, potentially increasing their reliance on rental housing.
The deferred maintenance risk is also significant. With a median income of $85,694, tenants may struggle to afford necessary repairs and maintenance, placing the burden on landlords to keep properties up to standard. This can lead to unexpected expenses and additional work.
On the positive side, the renter share in ZIP 05464 is 30.2%, which is relatively high. A high concentration of renters often translates into greater demand for rental properties, including those that accept Section 8 vouchers. This demand can help mitigate some of the risks associated with vacancy and turnover.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.