Location: Addison County, VT | Metro: Addison County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $2,370 |
| 5 Bedrooms | $2,749 |
| 6 Bedrooms | $3,079 |
| 7 Bedrooms | $3,325 |
| 8 Bedrooms | $3,491 |
U.S. Census Bureau data (2024)
The ZIP code 05747 represents a rural Vermont neighborhood characterized by a small population of 361 residents. Only 12.6% of these residents are renters, indicating a primarily owner-occupied community. The median household income in this area is $57,917, which is relatively modest compared to urban areas but typical for a rural setting. The median home value stands at $254,583, reflecting the cost of living in this region.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,270. However, the actual market rent as reported by the Census ACS is lower at $1,163. This suggests that there is a discrepancy between the government's estimate of what constitutes a fair rent and the current market conditions, potentially offering a margin of profit for landlords who can secure Section 8 tenants willing to pay the higher FMR rate.
Given these economic factors, ZIP 05747 could be suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the stable income provided by Section 8 vouchers can be an attractive option, especially if they can leverage the difference between the FMR and market rent rates. On the other hand, for value-add buyers looking to improve properties and increase their rental value closer to the FMR, this ZIP code presents an opportunity to create additional equity through renovations and better management practices. The low percentage of renters and the modest income levels indicate a need for affordable housing solutions, making Section 8 a viable strategy for property owners aiming to serve this niche market effectively.
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.