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 | $2,020 |
| 1 Bedroom | $2,310 |
| 2 Bedrooms | $2,900 |
| 3 Bedrooms | $3,460 |
| 4 Bedrooms | $3,810 |
| 5 Bedrooms | $4,420 |
| 6 Bedrooms | $4,950 |
| 7 Bedrooms | $5,346 |
| 8 Bedrooms | $5,613 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,900 | $312,242 | 0.93% | C |
| 3BR | $3,460 | $463,335 | 0.75% | D |
| 4BR | $3,810 | $583,950 | 0.65% | D |
| 5BR | $4,420 | $904,096 | 0.49% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 06089, Simsbury, Connecticut, for fiscal year 2024 is set at $2,160. This figure represents the maximum amount that a landlord can receive from the government under the Section 8 Housing Choice Voucher program for a given unit. It does not mean you will be renting your property out for $2,160; rather, it's the benchmark used to determine the subsidy payment.
To put this into perspective, the Zillow Observed Rent Index (ZORI), which reflects typical market rents, stands at $2,563 for the same area. This indicates that if you participate in Section 8, you might receive less than the average market rent for similar properties in the area. However, the demand for rental housing in Simsbury is strong, with 52.2% of residents being renters. This high percentage suggests there is significant interest among potential tenants for Section 8 housing, ensuring a steady stream of applicants.
If you're looking to acquire a property in Simsbury, the median home value is around $475,360. This figure should be considered when evaluating whether a Section 8 rental will meet your investment criteria. While the income from Section 8 may be lower than market rates, the stability it offers can be a significant advantage for landlords and small-portfolio investors.
Before deciding to pull the trigger on your first Section 8 rental in Simsbury, ensure that your property meets all the necessary inspection standards. The Housing Quality Standards (HQS) are a set of minimum requirements that must be met for a property to be eligible for the program. These standards cover a wide range of issues including safety, cleanliness, and basic functionality. A property that fails to meet these standards will not be approved, so it's crucial to verify compliance ahead of time.
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.