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 | $1,330 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,910 |
| 3 Bedrooms | $2,280 |
| 4 Bedrooms | $2,510 |
| 5 Bedrooms | $2,912 |
| 6 Bedrooms | $3,261 |
| 7 Bedrooms | $3,522 |
| 8 Bedrooms | $3,698 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,910 | $312,202 | 0.61% | D |
| 3BR | $2,280 | $460,781 | 0.49% | F |
| 4BR | $2,510 | $667,715 | 0.38% | F |
| 5BR | $2,912 | $843,259 | 0.35% | F |
U.S. Census Bureau data (2024)
To determine if you should buy in ZIP 06019 (Canton, CT) for Section 8 investment, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $1,690 cover the debt service on a property valued at $469,606?
Yes. The FMR of $1,690 can potentially cover the debt service. To confirm, calculate the total annual debt service (including principal, interest, taxes, and insurance) and compare it to the annual rental income. If the annual rental income exceeds the annual debt service, then the investment is financially viable based on FMR alone.
No. If the FMR of $1,690 does not cover the debt service on a property valued at $469,606, purchasing here for Section 8 would not be advisable. The FMR must at least meet the debt service requirements to ensure the investment is sustainable.
It Depends. If the FMR is close but not fully covering the debt service, consider additional sources of income such as subsidies or other government assistance programs that might help bridge the gap. However, this scenario is less favorable and requires careful financial planning.
2) How does the market rent of $1,403 compare to the FMR?
Above FMR. The market rent being higher than the FMR suggests a good opportunity for non-Section 8 tenants. Landlords could charge market rates and still attract tenants, making the property more attractive as an investment.
At or Below FMR. If the market rent is at or below the FMR, the property will likely only appeal to Section 8 tenants. This limits the tenant pool and could affect the property's long-term value if there is a change in the housing market or in the availability of Section 8 vouchers.
3) Is there sufficient demand with 16.7% of residents renting and unknown days on the market (DOM)?
Yes. With 16.7% of residents renting, there is a steady demand for rental properties. This percentage indicates a reasonable portion of the population relies on rentals, which can support a Section 8 investment. Additionally, the lack of data on DOM suggests that properties are either rented quickly or there is a low turnover rate, both positive signs for investment stability.
No. If the rental demand is too low or the DOM is excessively high, it signals difficulties in finding tenants. This would make the investment less attractive, especially for a Section 8 portfolio where the tenant pool is already limited.
It Depends. In cases where the DOM is not available, evaluate other factors such as the unemployment rate, median household income, and local economic conditions. These metrics can provide insight into the overall health of the rental market and whether demand will remain stable.
In conclusion, the viability of purchasing in ZIP 06019 for Section 8 investment hinges on these three key points. Ensure that the FMR covers your debt service, assess how the market rent compares to FMR, and evaluate the strength of rental demand in the area.
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.