Location: Orleans County, VT | Metro: Essex County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
45.3% of residents in ZIP code 05846 are renters, indicating a significant demand for rental properties. The $777 market rent, as reported by the Census ACS, is below the $990 Fair Market Rent (FMR) set for metro areas in fiscal year 2026, suggesting an opportunity for landlords to increase rents without losing tenants. Despite the $233,569 median home value, which is relatively high, the median income of $46,278 may limit the ability of some residents to afford homeownership, further supporting the rental market. However, due to the lack of available data on days on market (DOM) and the percentage of price-cut share, it's challenging to assess the speed at which properties sell and the frequency of price reductions. This gap in information could be critical for small-portfolio investors looking to gauge the local housing market's responsiveness and flexibility. Given the disparity between the market rent and the FMR, along with the substantial renter share, landlords and small-portfolio investors should find the ZIP 05846 area favorable for Section 8 participation.
The $990 FMR stands as a benchmark for affordable housing, offering landlords a clear guideline for setting rents that attract Section 8 tenants. With $777 being the average market rent, there is room for adjustment upwards to meet the FMR without alienating potential tenants. The median income figure of $46,278 indicates that many residents rely on assistance programs like Section 8 to cover their housing costs, making the area ripe for investment in properties that can qualify for such subsidies. In conclusion, the data points to a market where Section 8 is a viable and beneficial option for landlords and investors.
Section 8 verdict: Favorable for participation in ZIP 05846.
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.