Location: Caledonia County, VT | Metro: Caledonia County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,370 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,230 |
| 4 Bedrooms | $2,660 |
| 5 Bedrooms | $3,086 |
| 6 Bedrooms | $3,456 |
| 7 Bedrooms | $3,732 |
| 8 Bedrooms | $3,919 |
U.S. Census Bureau data (2024)
Investors often raise concerns about the financial viability of properties in ZIP 05832, particularly regarding the Fair Market Rent (FMR) of $1,400 for the metro area in fiscal year 2026. A key objection is whether this amount will sufficiently cover the mortgage on a home valued at $447,164.
The FMR of $1,400 is indeed lower than what might be required to service a mortgage on a property of this value. However, it's important to note that the FMR is a guideline, and actual rents can vary. Additionally, the FMR is designed to reflect the 40th percentile of rents, meaning that many units could command higher rents.
Another common concern is the level of renter demand, which stands at 9.3%. This figure indicates that there is moderate demand for rental properties in ZIP 05832. To put this into perspective, a higher percentage would suggest stronger demand, but even at 9.3%, there is sufficient interest to maintain a steady tenant pool. It's also worth considering that this demand can fluctuate based on economic conditions and local job markets.
A final point of contention is whether voucher utilization will keep pace with the overall market rents. Unfortunately, the data does not provide a direct comparison between voucher payments and market rents for ZIP 05832. However, it's known that voucher payment standards are typically adjusted annually to reflect changes in the housing market. While this adjustment may not always match the exact rate of increase in market rents, it generally ensures that voucher holders can find suitable housing.
To conclude, while the FMR of $1,400 may not fully cover the mortgage on a $447,164 home, it reflects a significant portion of the rental market. The 9.3% renter demand suggests a stable but not overly competitive market. Lastly, although specific data on voucher adequacy isn't available, annual adjustments usually align with broader market trends.
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.