Location: Washington County, VT | Metro: Caledonia County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,250 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,790 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,350 |
| 5 Bedrooms | $2,726 |
| 6 Bedrooms | $3,053 |
| 7 Bedrooms | $3,297 |
| 8 Bedrooms | $3,462 |
U.S. Census Bureau data (2024)
The ZIP code 05647 in Wyoming, Vermont, presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, with the market rent at $988 being substantially lower than the Fair Market Rent (FMR) of $1,480 for FY 2026. This gap suggests that tenants might seek higher rents elsewhere, leading to frequent changes in occupancy. High tenant turnover can be costly, as it requires ongoing advertising, screening, and preparation of units for new occupants.
Vacancy exposure is another risk factor. The data does not provide a specific number of days on the market (DOM), which makes it difficult to predict how long a unit might remain vacant between tenants. A prolonged period of vacancy can lead to significant financial losses, especially when considering the deferred maintenance costs that may arise over time.
Deferred maintenance is a critical issue given the typical home value of $357,123 and the median income of $76,406. Landlords should be prepared for the possibility that tenants might not be able to afford the upkeep of their properties, potentially leaving the landlord responsible for repairs and maintenance. This can add substantial costs to the overall investment, particularly if the property is not generating sufficient rental income to cover these expenses.
However, the 12.5% renter share indicates a relatively high concentration of renters in the area, which typically translates into higher demand for housing vouchers. This demand can help stabilize occupancy rates and ensure a steady stream of tenants, even if they are subject to government-subsidized rental programs.
In conclusion, the risks associated with tenant turnover, vacancy exposure, and deferred maintenance are significant but may be partially offset by the high renter density. Given these factors, the verdict for ZIP 05647 is 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.