Location: Addison County, VT | Metro: Addison County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,320 |
| 2 Bedrooms | $1,670 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,790 |
| 5 Bedrooms | $3,236 |
| 6 Bedrooms | $3,624 |
| 7 Bedrooms | $3,914 |
| 8 Bedrooms | $4,110 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 05491, which is located in Vermont, is set at $1,480 for the fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers, meaning it's the maximum amount the government will pay on behalf of a tenant to cover rent and utilities. However, this does not necessarily mean you can charge $1,480; your rent must be reasonable compared to the market rate.
The Census American Community Survey (ACS) indicates that the average rent in 05491 is $1,141. Therefore, if you're participating in the Section 8 program, you should aim to keep your rent close to this amount to ensure compliance and avoid setting a price that might be seen as too high for the area.
With 20.3% of residents being renters, there is a steady demand for rental properties in this ZIP code. This suggests that there is a reasonable pool of potential tenants who could benefit from Section 8 vouchers, making it a viable option for landlords looking to fill vacancies.
The median home value in 05491 is approximately $416,834. This figure can help you estimate the acquisition cost of a property if you're considering purchasing one specifically for a Section 8 rental. Keep in mind that the actual purchase price could vary based on the condition and location of the property.
Before you decide to participate in the Section 8 program with a property in 05491, verify that your property meets all the necessary quality standards. The government requires that all Section 8 homes meet certain health and safety criteria, known as the Housing Quality Standards (HQS), to ensure they are livable for tenants. Failure to meet these standards can result in penalties or termination of your contract.
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.