Location: Bennington County, VT | Metro: Bennington County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,250 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,430 |
| 5 Bedrooms | $2,819 |
| 6 Bedrooms | $3,157 |
| 7 Bedrooms | $3,410 |
| 8 Bedrooms | $3,581 |
U.S. Census Bureau data (2024)
The median income in ZIP code 05776 stands at $64,375. Given the lack of specific market rate rental data, it's critical to evaluate the situation using the Fair Market Rent (FMR) standards provided by the government. For the fiscal year 2026, the FMR set at $1,460 represents the maximum amount that a voucher holder can pay towards their rent. This figure is pivotal in understanding the affordability gap and its implications on landlord competition.
In a scenario where the market rate rentals are higher than the FMR, which is often the case in many areas, households would find it challenging to secure housing without assistance. The limited number of renters—only 2.1% of the 341 population—suggests a niche market with fewer potential tenants, increasing the competition among landlords for both voucher and cash-paying tenants.
The affordability gap means that landlords who rely solely on cash-paying tenants might face challenges in attracting and retaining them. Households earning the median income of $64,375 may struggle to meet higher-than-FMR rents. Therefore, landlords must consider the benefits of accepting Section 8 vouchers. Vouchers ensure a steady and reliable source of income, albeit capped at the FMR, reducing the risk of vacancies and non-payment.
Landlords should strategize by assessing the local rental market dynamics. If the market rate exceeds the FMR significantly, accepting vouchers could be a viable strategy to maintain occupancy rates. However, if the market rate aligns closely with or below the FMR, focusing on cash-paying tenants might yield higher returns per unit.
The takeaway for landlords is to understand the balance between voucher and cash-paying tenants. In ZIP 05776, where the population is relatively small and the percentage of renters is low, securing any tenant is crucial. Landlords must weigh the stability offered by voucher programs against the potentially higher income from cash-paying tenants, depending on the local market conditions.
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.