Location: Hartford-West Hartford-East Hartford, CT | Metro: Hartford-West Hartford-East Hartford, CT MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,710 |
| 1 Bedroom | $1,960 |
| 2 Bedrooms | $2,460 |
| 3 Bedrooms | $2,930 |
| 4 Bedrooms | $3,240 |
| 5 Bedrooms | $3,758 |
| 6 Bedrooms | $4,209 |
| 7 Bedrooms | $4,546 |
| 8 Bedrooms | $4,773 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,460 | $283,307 | 0.87% | C |
| 3BR | $2,930 | $358,740 | 0.82% | C |
| 4BR | $3,240 | $439,754 | 0.74% | D |
| 5BR | $3,758 | $477,348 | 0.79% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 06002, which covers Bloomfield, Connecticut, is set at $2,100 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, not the actual rent that will be paid. The actual rent will be determined based on the property's condition and location but cannot exceed the FMR.
In comparison, the local market rent for ZIP 06002 is estimated at $2,435 according to the Zillow Observed Rent Index (ZORI). This indicates that the average rent in the area is higher than the Section 8 payment standard. Therefore, landlords participating in the Section 8 program in this ZIP code may receive slightly lower rent payments than they would if renting to non-subsidized tenants.
The 28.8% renter share signifies that nearly 29% of households in Bloomfield are renters. This percentage helps illustrate the demand for rental properties in the area. With a significant portion of the population renting, there is a steady need for affordable housing options, making Section 8 participation a viable strategy for landlords seeking consistent tenancy.
Acquiring a rental property in ZIP 06002 can be costly, with an average price tag of $355,137. For those considering their first Section 8 rental, it’s important to ensure that the property meets all necessary requirements before committing to purchase. Specifically, you should verify that the property passes a Housing Quality Standards (HQS) inspection. This inspection ensures that the property is safe, decent, and sanitary, which is mandatory for any property to qualify for the Section 8 program.
Participating in the Section 8 program can provide a reliable stream of income through government subsidies, but it also comes with responsibilities to maintain the property and adhere to HQS standards. Landlords must balance these obligations against the potential benefits of offering affordable housing to eligible families.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.