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 | $1,310 |
| 1 Bedroom | $1,500 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,480 |
| 5 Bedrooms | $2,877 |
| 6 Bedrooms | $3,222 |
| 7 Bedrooms | $3,480 |
| 8 Bedrooms | $3,654 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,880 | $426,152 | 0.44% | F |
| 3BR | $2,240 | $562,579 | 0.4% | F |
| 4BR | $2,480 | $841,740 | 0.29% | F |
| 5BR | $2,877 | $1,040,850 | 0.28% | F |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 06073, which encompasses parts of Glastonbury, Connecticut, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for ZIP 06073 in fiscal year 2024 is set at $1,980, while the Census ACS data indicates that the average market rent is $1,408. This represents a gap of $572, or approximately 40%, between what landlords could potentially receive through Section 8 vouchers and the prevailing market rates.
In Glastonbury, where only 7.3% of residents are renters and the median home value stands at $655,678, the decision to accept Section 8 tenants involves understanding the implications of renting below the market rate. Despite the high median home value and median income of $201,477, landlords might still find it beneficial to participate in the Section 8 program due to the guaranteed payment structure and the stability it offers.
However, accepting Section 8 tenants means that landlords will be receiving a subsidy that is higher than the typical market rent. While this can be advantageous in terms of financial security and reduced vacancy risk, it also implies that landlords will not be maximizing their rental income based on current market conditions. The cost of housing voucher tenants below open-market rates is essentially the foregone opportunity to charge the full market rent, which in this case is $572 less per month than the FMR.
This situation highlights the trade-offs landlords must consider when deciding whether to participate in the Section 8 program. On one hand, they benefit from the reliability of government-backed rent payments. On the other hand, they must accept a lower rent than what the market would bear, making it a strategic choice rather than a purely profit-driven one.
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.