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 | $2,010 |
| 1 Bedroom | $2,300 |
| 2 Bedrooms | $2,880 |
| 3 Bedrooms | $3,430 |
| 4 Bedrooms | $3,790 |
| 5 Bedrooms | $4,396 |
| 6 Bedrooms | $4,924 |
| 7 Bedrooms | $5,318 |
| 8 Bedrooms | $5,584 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,880 | $329,529 | 0.87% | C |
| 3BR | $3,430 | $487,686 | 0.7% | D |
| 4BR | $3,790 | $609,970 | 0.62% | D |
| 5BR | $4,396 | $767,017 | 0.57% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 06070, Simsbury, Connecticut, within the Hartford-West Hartford-East Hartford, CT MSA, reveals several key insights for landlords and small-portfolio investors.
First, let's address whether the rent math works. The Fair Market Rent (FMR) for ZIP 06070 in fiscal year 2024 is set at $2250. However, the actual market rent, as measured by Zillow's Rent Index (ZORI), stands at $1,964. This discrepancy suggests that landlords aiming to charge the FMR might face challenges in finding tenants willing to pay above the market rate.
Second, regarding acquisition affordability, the median home value in Simsbury is $525,598. Given the lack of data on days on market (DOM) and the low percentage of homes requiring price cuts (0.1%), it appears that the housing market is stable, but not particularly dynamic. This indicates that acquiring properties at a discount may be difficult, and investors should expect to pay closer to the median value.
Lastly, we must consider tenant demand. Simsbury has a population of 15,254, with 21.6% of residents being renters. While this renter share is relatively low, it still represents a significant number of potential tenants. The demand for rental properties will likely remain steady, but investors should be prepared for a competitive environment.
In conclusion, while the rent math does not favor charging the FMR due to the lower market rent, the stable housing market and moderate tenant demand suggest that Simsbury can be a viable investment location for landlords and small-portfolio investors. However, they should anticipate paying near the median home value and adjust their rental pricing to align closely with the ZORI of $1,964 to ensure occupancy rates. With these considerations, Simsbury offers a balanced opportunity for real estate investment within the constraints of the current market conditions.
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.