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 | $1,590 |
| 1 Bedroom | $1,830 |
| 2 Bedrooms | $2,290 |
| 3 Bedrooms | $2,730 |
| 4 Bedrooms | $3,010 |
| 5 Bedrooms | $3,492 |
| 6 Bedrooms | $3,911 |
| 7 Bedrooms | $4,224 |
| 8 Bedrooms | $4,435 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,830 | $175,628 | 1.04% | B |
| 2BR | $2,290 | $273,623 | 0.84% | C |
| 3BR | $2,730 | $334,698 | 0.82% | C |
| 4BR | $3,010 | $392,313 | 0.77% | D |
| 5BR | $3,492 | $434,861 | 0.8% | C |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 06042 in Manchester, Connecticut reveals a competitive rental environment. The HUD Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $2,130, which is slightly above the market rent index (ZORI) of $2,035. This indicates that voucher tenants will generally cashflow at the FMR rate, but only marginally so. To ensure positive cashflow, landlords should focus on properties that can command rents closer to the FMR or consider premium units.
The median home value in the area stands at $313,499, leading to a rent-to-price ratio of approximately 0.7%. This suggests that the rental market is relatively stable compared to the housing market, making it an attractive option for investors looking for consistent returns.
Notably, the day median DOM (Days on Market) is listed as N/A, which could imply that listings either move quickly or there is limited data available. Additionally, the price-cut share of 0.1% indicates that sellers rarely need to reduce their asking prices, suggesting a strong seller's market in terms of home sales. However, these metrics have less direct impact on the rental market dynamics, where the primary concern is the ability to lease units at rates that cover costs.
In conclusion, the strongest angle for Section 8 investors in ZIP 06042 is likely to be cashflow, given the alignment of HUD FMR with market rents, though attention must be paid to maintaining properties at a level that justifies the higher end of the rental spectrum.
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.