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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,910 | $351,231 | 0.54% | F |
| 3BR | $2,280 | $433,343 | 0.53% | F |
| 4BR | $2,510 | $540,590 | 0.46% | F |
U.S. Census Bureau data (2024)
The ZIP code 06023 in Berlin, Connecticut, stands out within Hartford County due to several key factors. With a population of 1,196 residents, it has a rental rate of 16.8%, which is notably lower than the national average. The median income in this area is $100,317, indicating a relatively affluent community. However, the median home value of $407,072 suggests that homeownership is a significant aspect of the local economy, further emphasizing the importance of rental properties for those who do not own homes.
Moving into the specifics of Section 8 housing, the Fair Market Rent (FMR) for ZIP 06023 for fiscal year 2024 is set at $1,670. This figure is crucial for landlords and small-portfolio investors as it determines the maximum rent allowed for a Section 8 voucher holder. Despite the FMR being available, the market rent data is currently not applicable (N/A), making the FMR a pivotal benchmark for rental pricing in this area.
The data signature for ZIP 06023 reads as stable. The low percentage of renters and high median income suggest that the majority of residents are financially secure and likely to maintain steady rental payments if they choose to participate in the Section 8 program. For investors, this stability can translate into predictable cash flows and a reliable tenant base, especially when considering the higher FMR compared to potentially lower market rents.
In conclusion, ZIP 06023 presents a unique opportunity for Section 8 investment. The combination of a moderate rental rate, high median income, and a defined FMR makes it a favorable environment for landlords seeking to engage with the program. The stability of the area ensures that investments will be supported by a consistent economic backdrop, minimizing risks associated with fluctuating market conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.