Location: Burlington-South Burlington, VT | Metro: Burlington-South Burlington, VT MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,490 |
| 1 Bedroom | $1,650 |
| 2 Bedrooms | $2,080 |
| 3 Bedrooms | $2,630 |
| 4 Bedrooms | $2,730 |
| 5 Bedrooms | $3,167 |
| 6 Bedrooms | $3,547 |
| 7 Bedrooms | $3,831 |
| 8 Bedrooms | $4,023 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,630 | $387,520 | 0.68% | D |
U.S. Census Bureau data (2024)
In ZIP code 05483, the economics of Section 8 housing are governed by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1740 per month for fiscal year 2024. This figure is specific to this ZIP code, reflecting the unique rental conditions within the area. By comparison, the local market rent for a similar unit is slightly lower at $1,605, based on recent Census ACS data.
The SAFMR sets the maximum amount that a landlord can receive from the Housing Choice Voucher program for a two-bedroom rental. However, this does not equate to the full monthly rent. Tenants are required to contribute a portion of their income towards rent, typically around 30%. If we assume an average tenant income, they would pay approximately $492 towards the rent ($1740 x 30%).
The remainder of the rent is subsidized by the government. In this case, the landlord would receive $1248 from the voucher program ($1740 - $492). It's important to note that the voucher also covers utility allowances, which are separate from the base rent subsidy. These allowances can vary but generally add a few hundred dollars to the total reimbursement.
To illustrate, if the utility allowance is $150, the total reimbursement for the landlord would be $1398 ($1248 + $150). This means that for a two-bedroom apartment in ZIP 05483, the landlord would receive a total of $1398 from the voucher program and the tenant combined.
Given that the local market rent is $1,605, there is a reimbursement gap between the market rent and the voucher payment. This gap amounts to $207 ($1,605 - $1398). Therefore, landlords accepting Section 8 vouchers in ZIP 05483 should expect to earn less than the market rent, resulting in a slight financial deficit for each unit rented under the program.
Landlords must weigh this gap against the stability and reliability of voucher payments, which are guaranteed by the government. While the reimbursement is slightly below the market rate, it provides a consistent income stream that can be beneficial in managing rental properties.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.