Location: Rutland County, VT | Metro: Bennington County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,540 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,430 |
| 4 Bedrooms | $2,840 |
| 5 Bedrooms | $3,294 |
| 6 Bedrooms | $3,689 |
| 7 Bedrooms | $3,984 |
| 8 Bedrooms | $4,183 |
U.S. Census Bureau data (2024)
In ZIP code 05761, the economics of Section 8 housing can be analyzed using the SAFMR (Small Area Fair Market Rent) data for a two-bedroom apartment. For fiscal year 2026, the SAFMR for a 2BR unit in this ZIP is set at $1,750. This figure represents the maximum amount that the Housing Choice Voucher program will pay towards the rent for a unit in this area. It's important to note that this SAFMR is specifically tailored for this ZIP code, ensuring it reflects local rental conditions accurately.
The local market rent for a 2BR unit, according to the Census ACS, is $1,431. This indicates that the average rent charged by landlords in the area is lower than the SAFMR. However, landlords participating in the Section 8 program should understand that the reimbursement they receive from the voucher is based on the SAFMR, not the local market rent.
A voucher holder is required to contribute a portion of their income towards the rent. Typically, this contribution is 30% of their adjusted monthly income. Additionally, there are utility allowances that vary by location but generally cover some of the tenant's energy costs. These allowances are also part of the total reimbursement calculation.
To illustrate, if a tenant's portion of the rent is $450 (as an example), and the utility allowance is $200, the total reimbursement to the landlord would be the sum of these amounts plus the voucher payment. In this case, it would be $450 (tenant's share) + $200 (utilities) = $650, added to the $1,750 (SAFMR), resulting in a total of $2,400. This total is the maximum amount that could potentially be paid, though actual payments may differ based on the specific circumstances of the tenant.
Given that the local market rent is $1,431, landlords in ZIP 05761 might find themselves with a surplus when renting to Section 8 participants. The difference between the SAFMR and the market rent suggests that landlords could receive a higher reimbursement than the typical market rate. This surplus can range significantly depending on the actual rent charged and the tenant's contribution.
In summary, for a 2BR unit in ZIP 05761, the typical reimbursement gap or surplus leans towards a surplus. Landlords can expect to receive more than the local market rent due to the higher SAFMR set for this ZIP code. This economic dynamic can make Section 8 participation financially beneficial for landlords, especially those who charge below the SAFMR rates.
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.