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 | $1,250 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,140 |
| 4 Bedrooms | $2,370 |
| 5 Bedrooms | $2,749 |
| 6 Bedrooms | $3,079 |
| 7 Bedrooms | $3,325 |
| 8 Bedrooms | $3,491 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,800 | $155,094 | 1.16% | B |
| 3BR | $2,140 | $291,822 | 0.73% | D |
| 4BR | $2,370 | $313,500 | 0.76% | D |
U.S. Census Bureau data (2024)
The classification of ZIP 06114 in Hartford, CT, hinges on analyzing its yield and stability metrics. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,500, which is lower than the market rent of $1,634. This suggests that there is a slight premium for market rents over FMR, indicating potential for higher yields if properties can be rented out at market rates.
However, the median home value in this area is $221,287, which means that the initial investment for acquiring rental properties is relatively high. Coupled with the fact that only 61.6% of residents are renters, this ZIP code does not exhibit characteristics of a high-yield/low-stability market typically associated with "flip-style" investments. In such markets, the majority of residents would likely be renters, and the FMR would be significantly lower than market rents, allowing for greater profit margins when renting out renovated properties.
The stability of the market is partially indicated by the median household income of $52,110. While this figure is not exceptionally high, it does provide some insight into the financial capacity of the residents to afford market rents. However, the lack of data regarding the number of days on market (DOM) for rentals is a significant gap in assessing stability. Typically, a lower DOM indicates a more stable market where properties are quickly rented out, reducing vacancy periods and increasing cash flow predictability.
In summary, ZIP 06114 leans towards being a steady-cashflow zone rather than a high-yield/low-stability market. The relatively low difference between FMR and market rent, combined with a moderate percentage of renters and an average household income, supports this classification. Landlords and small-portfolio investors should expect modest yields but with reasonable stability, assuming they can maintain their properties at market rent levels without excessive vacancy periods.
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.