Location: Caledonia County, VT | Metro: Caledonia County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
U.S. Census Bureau data (2024)
The ZIP code 05828 has a population of 2,092 residents, with 14.6% being renters. This indicates that the area is primarily dominated by homeowners rather than renters, suggesting that the demand for rental properties using Section 8 vouchers might be limited. The median household income in this ZIP is $72,121, which provides context for understanding the financial capacity of potential tenants.
Although the exact market rent is not specified, we can infer that typical rents would likely consume a significant portion of the local income given the relatively high median income figure. For comparison, the Fair Market Rent (FMR) for the area is set at $1,020 for fiscal year 2026, which represents a metro-level benchmark. Assuming market rents align closely with this FMR, a tenant earning the median income would spend approximately 14% of their monthly income on rent, which is within a reasonable range but still a considerable expense.
Landlords in ZIP 05828 should anticipate a tenant pool that predominantly consists of individuals or families who rely on Section 8 housing vouchers to secure affordable living conditions. These tenants will have incomes below 50% of the area's median income, making the $1,020 FMR an upper limit for what they can afford. Given the homeowner-dominated nature of the area, competition for Section 8 vouchers among eligible renters could be fierce, leading to a potentially smaller but highly motivated pool of applicants.
To attract and retain Section 8 tenants, landlords must ensure compliance with HUD standards and be prepared to navigate the administrative processes associated with the program. Despite the homeowner bias, the presence of any rental units in this ZIP could still be attractive to low-income families seeking affordable housing options, especially if those units offer desirable amenities or locations.
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.