Location: Caledonia County, VT | Metro: Caledonia County, VT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,240 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,980 |
| 4 Bedrooms | $2,390 |
| 5 Bedrooms | $2,772 |
| 6 Bedrooms | $3,105 |
| 7 Bedrooms | $3,353 |
| 8 Bedrooms | $3,521 |
U.S. Census Bureau data (2024)
The median income in ZIP code 05866 stands at $64,609, which places significant constraints on the ability of households to afford the market rate rent of $992 per month. This makes it challenging for many residents to secure housing without financial assistance. Comparatively, the Fair Market Rent (FMR) set at $1,270 for the fiscal year 2026 is notably higher than the current market rate, indicating that voucher holders have a greater capacity to pay rent. However, this also means there is a substantial affordability gap between the median income and both the market rate and FMR.
With only 16.3% of the 684 population being renters, landlords face stiff competition for securing tenants. The limited number of renters suggests that properties must be priced attractively to draw interest. Given the discrepancy between median income and rental rates, landlords should consider the benefits of accepting vouchers. Vouchers can ensure steady, government-backed payments that align with the higher FMR standard, reducing the risk of non-payment and vacancy.
Landlords in ZIP 05866 should weigh the advantages of voucher tenants against those who pay cash. While cash-paying tenants might offer more flexibility, they are fewer in number and less likely to afford the higher rents. In contrast, voucher tenants provide a reliable income stream that is closer to the FMR benchmark. The decision should factor in the long-term stability and the local rental market dynamics.
The takeaway for landlords is clear: given the affordability gap and the competition for tenants, accepting vouchers can be a strategic move to ensure consistent occupancy and income. It allows landlords to tap into a segment of the market that has a higher ability to meet rent expectations, thereby reducing the risks associated with cash-pay strategies.
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.