Location: Hartford-West Hartford-East Hartford, CT | Metro: Hartford-West Hartford-East Hartford, CT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,340 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,300 |
| 4 Bedrooms | $2,540 |
| 5 Bedrooms | $2,946 |
| 6 Bedrooms | $3,300 |
| 7 Bedrooms | $3,564 |
| 8 Bedrooms | $3,742 |
The market in ZIP code 06077, located in Connecticut, presents a dynamic scenario that can be inferred from the available snapshot data. The Fair Market Rent (FMR) for the area stands at $1690 for the fiscal year 2024, indicating a baseline for rental affordability and landlord pricing strategies.
Despite the lack of specific current market rent figures, the absence of a significant price-cut share percentage suggests that landlords in 06077 are maintaining their rents without the need for substantial discounts to attract tenants. This could imply that demand is steady or even slightly outpacing supply, as tenants are willing to pay close to the listed rates without extended negotiation periods.
The unknown median days on market (DOM) and median home value further obscure the precise balance between supply and demand in the housing market. However, the N/A% renter share provides insight into the long-term housing pressure. In areas where a higher percentage of residents are renters, there tends to be greater pressure on the housing market due to the continuous need for rental properties. The lack of data on renter share might suggest either a balanced market with both homeowners and renters, or an underreported statistic that would require additional research to clarify.
The overall picture of ZIP 06077, based on the FMR and the absence of significant price cuts, points towards a market where demand is likely holding up well against supply. This stability can be beneficial for landlords and small-portfolio investors who aim to maintain steady cash flows and avoid frequent rent adjustments.
Data Sources: FMR data from HUD (2027).
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.