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 | $1,270 |
| 1 Bedroom | $1,450 |
| 2 Bedrooms | $1,820 |
| 3 Bedrooms | $2,170 |
| 4 Bedrooms | $2,390 |
| 5 Bedrooms | $2,772 |
| 6 Bedrooms | $3,105 |
| 7 Bedrooms | $3,353 |
| 8 Bedrooms | $3,521 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,450 | $99,993 | 1.45% | A |
| 2BR | $1,820 | $138,310 | 1.32% | A |
| 3BR | $2,170 | $330,403 | 0.66% | D |
| 4BR | $2,390 | $414,160 | 0.58% | F |
| 5BR | $2,772 | $640,154 | 0.43% | F |
U.S. Census Bureau data (2024)
The ZIP code 06105, located in Hartford, Connecticut, presents a challenging landscape for renters given the financial dynamics at play. The median income in this area stands at $41,937. Against this backdrop, the market rate for rent, measured by Zillow's ZORI index, is set at $1,287. This figure represents a significant portion of the average household's earnings, making it difficult for many residents to secure housing without financial strain.
To put this into perspective, the Federal Market Rent (FMR) for ZIP 06105 in fiscal year 2024 is pegged at $1,550. This amount reflects the maximum payment standard for Section 8 housing vouchers, which is notably higher than the current market rate. However, it also highlights a substantial affordability gap for those relying solely on their income to cover rent costs.
In ZIP 06105, where 80.7% of the 19,174 residents are renters, the competition among landlords is fierce. The high proportion of renters underscores the demand for affordable housing options, yet the market rate already poses a challenge for households. For landlords, this means that attracting tenants who can pay the market rate out-of-pocket might be increasingly difficult as the cost of living continues to rise.
The takeaway for landlords considering whether to accept voucher payments or focus on cash-paying tenants is clear: accepting Section 8 vouchers can provide a steady stream of income and reduce vacancy rates. While the voucher payment standard exceeds the current market rate, it ensures that landlords receive a fixed amount, eliminating the risk of non-payment and providing stability. Moreover, given the tight rental market and the financial struggles faced by many renters, landlords who are willing to work with voucher programs will likely have an advantage in securing long-term, reliable tenants.
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.