Location: Orleans County, VT | Metro: Orleans County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
U.S. Census Bureau data (2024)
The ZIP code 05847 has a population of 1,070 residents, with only 5.9% identified as renters. This indicates that the area is primarily dominated by homeowners rather than renters, suggesting that the demand for rental properties, including those utilizing Section 8 vouchers, is relatively low. The median household income in this ZIP code stands at $57,404, which provides a basis for understanding the financial capabilities of potential tenants.
To assess the impact of typical market rents on local incomes, consider that the average market rent is $945. This amount represents approximately 16.5% of the median household income when calculated annually. Given the Fair Market Rent (FMR) set at $1,220 for FY 2026, it's clear that the market rent in ZIP 05847 is below the FMR threshold, indicating that landlords could potentially attract more tenants by offering properties at this lower rate.
A landlord in ZIP 05847 can expect a tenant profile characterized by individuals or families who rely on government assistance due to limited financial resources. The typical tenant would likely be seeking affordable housing options and may have an annual income around $57,404 or less. These tenants would find the $945 market rent manageable, as it consumes a significant but reasonable portion of their income. However, given the low percentage of renters in the area, competition for tenants using Section 8 vouchers will be less intense compared to areas with higher renter populations.
In summary, ZIP 05847 is not a renter-heavy area with deep voucher demand. Instead, it is a homeowner-dominated region where vouchers are less common. Landlords should prepare for a tenant base that requires financial assistance, with rents representing a substantial but feasible share of their income. Offering properties at or slightly above the market rent could help landlords capture the available rental market effectively.
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.