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 | $1,570 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,260 |
| 3 Bedrooms | $2,690 |
| 4 Bedrooms | $2,970 |
| 5 Bedrooms | $3,445 |
| 6 Bedrooms | $3,858 |
| 7 Bedrooms | $4,167 |
| 8 Bedrooms | $4,375 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,260 | $326,990 | 0.69% | D |
| 3BR | $2,690 | $375,777 | 0.72% | D |
| 4BR | $2,970 | $413,725 | 0.72% | D |
U.S. Census Bureau data (2024)
Skeptical investors considering West Hartford, CT (ZIP 06110), often have several key concerns regarding the viability of renting properties through the Section 8 program. Here, we address those specific objections with the most recent data available.
Objection 1: Will Fair Market Rent (FMR) of $1790 (for ZIP 06110 in FY 2024) cover the mortgage on a $357,041 home?
The FMR of $1790 does not cover the entire mortgage payment for a home priced at $357,041. To put this into perspective, if we assume an average mortgage rate of around 5%, the monthly mortgage payment on a $357,041 property would be approximately $1,800. However, this figure is based on a 30-year fixed-rate mortgage and does not include additional costs such as property taxes, insurance, and maintenance. Therefore, the FMR alone is insufficient to cover all expenses associated with owning a property valued at $357,041.
Objection 2: Is there enough renter demand at 36.9%?
A rental market share of 36.9% suggests that nearly one-third of households in West Hartford are renters. This percentage is relatively moderate compared to other urban areas but still represents a significant portion of the housing market. While the data does not provide a direct measure of demand, it indicates that there is a substantial number of potential tenants. To further assess demand, consider the vacancy rates and the trend of population growth in the area. If these factors are favorable, the 36.9% rental market share can support a viable investment.
Objection 3: Will vouchers keep pace with $2,775 market rents?
The current FMR of $1790 is significantly lower than the market rent of $2,775. This gap raises concerns about whether voucher holders can afford to live in market-rate units. The Housing Choice Voucher program aims to cover a portion of the rent, typically up to 30% of the household's income. For landlords to participate effectively, they must ensure that their rent is set within the guidelines of the program. It is important to note that the FMR is adjusted annually, and while it may not fully match the market rent, it can still offer a stable source of income that is predictable and government-backed.
Investors should also be aware that the FMR is intended to reflect the typical cost of housing in the area and may not always align with individual market conditions. It is crucial to understand local trends and adjust expectations accordingly.
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.