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 | $1,300 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,870 |
| 3 Bedrooms | $2,230 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,490 | $150,183 | 0.99% | C |
| 2BR | $1,870 | $336,701 | 0.56% | F |
| 3BR | $2,230 | $434,344 | 0.51% | F |
| 4BR | $2,460 | $575,926 | 0.43% | F |
| 5BR | $2,854 | $628,274 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 06109, encompassing Wethersfield, Connecticut, presents a dynamic rental market characterized by a strong alignment between Fair Market Rent (FMR) and the actual market rent, as measured by Zillow's Observed Rental Index (ZORI). With an FMR of $1,570 for fiscal year 2024 and a ZORI of $2,202, there is a notable gap indicating that the private rental market is more expensive than what is considered fair by federal standards.
The low price-cut share of 0.2% suggests that landlords are generally able to maintain their asking rents without needing to reduce them significantly, which is indicative of a market where demand is robust relative to supply. This implies that tenants are willing to pay close to the listed rent, reducing the incentive for landlords to negotiate lower prices.
The median home value in Wethersfield stands at $424,379. While the days on market (DOM) data is not available, the combination of a higher market rent and a low price-cut share points towards a scenario where demand might slightly outpace supply, keeping the market active and competitive.
The 19.4% renter share highlights a significant portion of the population preferring or needing to rent rather than own property. This statistic is crucial as it suggests ongoing long-term housing pressure. A higher percentage of renters can indicate several dynamics: either a younger demographic that hasn't yet entered homeownership, a transient workforce, or individuals who find homeownership unaffordable. In any case, it signals a persistent need for rental properties, which could support steady demand for rentals over time.
In summary, Wethersfield's rental market appears to be one where demand is likely meeting supply closely, if not slightly exceeding it. The higher market rents compared to FMR, coupled with a minimal price-cut share, suggest that landlords can expect to maintain their rental rates without much difficulty. The significant renter share points to sustained demand, making the area attractive for those looking to invest in rental properties.
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.