Section 8 Fair Market Rent (FMR) for ZIP 05769 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The town of Cornwall, Connecticut, represented by ZIP code 05769, is a desirable suburban location known for its picturesque landscapes and close proximity to larger urban centers. This setting attracts a mix of homeowners and renters, making it an interesting market for real estate investment, particularly under Section 8 programs.

• The Fair Market Rent (FMR) for a two-bedroom apartment in the metropolitan area for fiscal year 2026 is set at $1,880, providing a benchmark for rental rates that landlords can charge to remain competitive and eligible for Section 8 subsidies.
• The actual market rent, according to the Census American Community Survey, stands at $1,443 for a similar unit, indicating a gap between the subsidized rate and the market rate that could be advantageous for landlords seeking to maximize their returns.
• The median home value in Cornwall is $405,136, reflecting a relatively affluent community where property values are stable and likely to appreciate over time.
• Renters make up only 10.9% of the population, suggesting a smaller pool of potential tenants but also pointing to a strong demand from homeowners who might benefit from renting out second units or vacation homes.
• The median household income is $99,792, which is higher than the national average, implying that residents have a greater capacity to pay higher rents if needed.

Investors looking to enter the Cornwall real estate market should focus on properties that align with the Fair Market Rent guidelines while being mindful of the local median home value and income levels. The relatively low share of renters suggests that competition for tenants is limited, but the high median income indicates a robust economic foundation that supports steady rental demand. Landlords can leverage the discrepancy between the FMR and market rent to secure long-term, stable tenancy through the Section 8 program, ensuring a reliable source of income. Overall, Cornwall presents a balanced opportunity for those willing to navigate the nuances of the local housing market and capitalize on the strengths of the area.

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.