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 | $1,280 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,230 |
| 4 Bedrooms | $2,420 |
| 5 Bedrooms | $2,807 |
| 6 Bedrooms | $3,144 |
| 7 Bedrooms | $3,396 |
| 8 Bedrooms | $3,566 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,840 | $383,197 | 0.48% | F |
| 3BR | $2,230 | $497,917 | 0.45% | F |
| 4BR | $2,420 | $602,365 | 0.4% | F |
U.S. Census Bureau data (2024)
The ZIP code 06093, located in Suffield, CT, presents a dynamic rental market that is influenced by several key factors. The Fair Market Rent (FMR) for the area is set at $1660 for the fiscal year 2024, which indicates the government's benchmark for affordability. In comparison, the market rent as per the Census American Community Survey stands at $891. This discrepancy suggests that the rental market in Suffield might be experiencing a shift, potentially driven by changes in local demand or supply.
The median home value in ZIP 06093 is $503,317, reflecting the overall cost of homeownership in the region. While the data on price-cut share and days on market (DOM) is not available, the significant gap between the FMR and the actual market rent implies that there could be an imbalance between supply and demand. If the market rent is consistently lower than the FMR, it could indicate a situation where supply slightly outpaces demand, leading to more competitive pricing among landlords.
However, the 5.6% share of renters in the area also provides insight into the long-term housing pressures. A smaller percentage of renters often points towards a community that leans heavily towards homeownership, suggesting that while the rental market may be somewhat saturated, the overall housing market is robust with a high rate of owner-occupied homes. This balance between renters and homeowners can create a stable environment, but it also means that any increase in rental demand could quickly lead to higher rents if the supply remains constant.
In summary, ZIP 06093 is a market characterized by a mix of rental and homeownership dynamics. The current rental rates suggest a potential oversupply relative to demand, yet the low percentage of renters hints at a strong preference for homeownership among residents. These conditions work together to shape a market that is in motion, with the potential for changes in both rental and home purchase trends.
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.