Location: Burlington-South Burlington, 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 |
ZIP code 05470, located within the Burlington-South Burlington, VT MSA, has a Fair Market Rent (FMR) of $1570 for fiscal year 2024. This figure is essential for understanding the rental market dynamics within the context of Section 8 housing assistance.
The FMR of $1570 places ZIP 05470 at a lower end compared to other ZIP codes within the Burlington-South Burlington, VT MSA. While specific market rents and home values for ZIP 05470 are not available, the absence of these figures suggests that it may be a less developed area within the metro, possibly offering more affordable living options for tenants. The lack of detailed data can sometimes indicate areas that are less competitive in terms of property investment but could still offer opportunities for landlords who are willing to work within the constraints of the Section 8 program.
The N/A% renter share also indicates a gap in data, which could mean that the majority of residents in ZIP 05470 own their homes rather than renting. However, given the presence of an FMR figure, it's reasonable to assume there is a significant enough rental market to warrant setting this standard. Typically, a higher renter share combined with below-average home values can signal a Section 8 sweet spot, where properties are more likely to be rented by those utilizing federal housing subsidies. In the case of ZIP 05470, without a specific renter share percentage, we cannot definitively categorize it as such a sweet spot.
Based on the provided FMR, ZIP 05470 appears to be a value pocket within the Burlington-South Burlington, VT MSA. Landlords operating in this ZIP code should consider the potential for attracting tenants who benefit from Section 8 vouchers, given the relatively lower rental costs compared to the broader metro area. This makes it an attractive option for those focused on affordable housing investments.
To make a more informed decision, landlords and small-portfolio investors should conduct further research into the local real estate trends and tenant demographics within ZIP 05470. Engaging with local real estate agents and reviewing recent property listings can provide additional insights into the actual market conditions and help identify specific properties that align with the investment strategy.
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.