Location: Orleans County, VT | Metro: Caledonia County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,220 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
U.S. Census Bureau data (2024)
In ZIP code 05842, the economics of Section 8 housing can be broken down clearly. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $1,310. This figure represents the maximum amount that the Housing Choice Voucher Program will pay towards the rent of a two-bedroom unit in this area. However, it's important to note that the local market rent for a similar unit, based on Census ACS data, is $1,125.
A landlord participating in Section 8 receives payment from both the tenant and the government. The tenant is responsible for paying approximately 30% of their adjusted income towards rent. For simplicity, let's assume a tenant has an adjusted income of $1,500 per month. In this case, the tenant would pay $450 towards rent. The remaining balance up to the SAFMR is covered by the government. Therefore, if the total rent charged is $1,310, the government would pay the difference, which is $860.
Utility allowances also play a role in the overall economics. These allowances vary but are typically around $200-$300 per month for a two-bedroom unit. If we take an average allowance of $250, this is additional money the landlord might receive to help cover utilities.
Combining these elements, the total reimbursement a landlord can expect from a voucher tenant for a two-bedroom apartment in ZIP 05842 would be the sum of the government payment and the utility allowance. This comes to $1,110 ($860 + $250).
Given that the local market rent is $1,125, landlords participating in Section 8 in ZIP 05842 would see a slight surplus of about $5 per month when renting a two-bedroom apartment at market rates. This surplus indicates that landlords can still meet market expectations while participating in the program, though the margin is tight.
To summarize, landlords in ZIP 05842 who rent out a two-bedroom apartment through the Section 8 program can anticipate receiving a combined payment of $1,110 from the tenant and the government. This leaves a minimal surplus compared to the local market rent, highlighting the need for landlords to carefully manage costs and expectations when dealing with Section 8 vouchers.
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.