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 | $1,260 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,810 |
| 3 Bedrooms | $2,160 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,810 | $264,196 | 0.69% | D |
| 3BR | $2,160 | $323,950 | 0.67% | D |
| 4BR | $2,380 | $332,241 | 0.72% | D |
| 5BR | $2,761 | $400,129 | 0.69% | D |
U.S. Census Bureau data (2024)
1530 is the Fair Market Rent (FMR) for ZIP code 06053, New Britain, CT, as set by HUD for fiscal year 2024. 1668 represents the actual market rent, or ZORI, indicating a slight gap between government-set rates and what tenants might actually pay. The median home value stands at 298226, reflecting the overall property values in the area. 48.9 percent of residents are renters, suggesting a substantial demand for rental properties. Median income in the area is 62645, which can influence the ability of residents to afford higher rents. Despite the median income figure, the day DOM is not applicable, meaning properties in this area likely sell quickly without needing extensive time on the market. The price-cut share is only 0.1 percent, indicating that homes in this ZIP rarely need to be discounted to attract buyers. These figures paint a picture of a stable real estate market where rental properties can command fair prices without significant discounts.
Investors looking to enter the New Britain market should consider the discrepancy between the FMR and ZORI when setting their rental prices. While the FMR provides a baseline for eligibility under Section 8 programs, the actual market conditions suggest that there may be opportunities to charge slightly above these levels without deterring tenants. The high percentage of renters and the quick sales indicate a robust demand for housing, both rental and ownership. However, the median income figure suggests that pricing must remain competitive to meet the needs of local residents.
The verdict on Section 8 in ZIP 06053 is positive, given the alignment between the FMR and the local market dynamics. Properties priced at or near the FMR are likely to attract eligible tenants, while still offering a reasonable return on investment.
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.