Location: Orleans County, VT | Metro: Caledonia County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,270 |
| 1 Bedroom | $1,320 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $2,080 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP code 05841 centers around the significant disparity between the Fair Market Rent (FMR) set by HUD for fiscal year 2026, which is $1,060, and the actual market rent. According to recent data from Zillow, the average market rent in 05841 for November 2025 was $2,183. This means that the FMR is approximately $1,123 lower than the market rate, representing a gap of about 51.5%.
Given that the FMR is less than the market rent, landlords and small-portfolio investors must understand the implications of accepting housing voucher tenants. The cost of housing voucher tenants below open-market rates can be substantial. For instance, if a landlord is leasing a unit at $2,183 but receiving only $1,060 through a voucher, they would need to cover the remaining $1,123 out of pocket unless they adjust their expectations or seek subsidies.
This analysis is anchored in the broader context of 05841, where 12.8% of the population are renters, the median home value is $585,618, and the median household income is $103,875. These figures suggest a relatively affluent area with limited rental demand, making it crucial for investors to weigh the benefits of long-term stability offered by Section 8 tenants against the financial shortfall when compared to market rents.
In summary, the gap between FMR and market rent in ZIP 05841 is substantial, impacting the profitability for landlords who accept housing vouchers. Investors should carefully consider the financial impact before engaging in this strategy.
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.