Location: Hartford-West Hartford-East Hartford, CT | Metro: Hartford-West Hartford-East Hartford, CT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,340 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,300 |
| 4 Bedrooms | $2,540 |
| 5 Bedrooms | $2,946 |
| 6 Bedrooms | $3,300 |
| 7 Bedrooms | $3,564 |
| 8 Bedrooms | $3,742 |
The ZIP code 06115 is situated within the Hartford-West Hartford-East Hartford, CT MSA. To analyze its position, we must consider its Fair Market Rent (FMR) and compare it to typical ZIP codes within the same metro area.
In ZIP 06115, the FMR for FY 2024 is set at $1650. This figure is crucial for landlords and investors dealing with Section 8 housing vouchers. However, without specific market rent and home value data for 06115, we can only infer its status relative to other ZIP codes within the Hartford-West Hartford-East Hartford, CT MSA based on the FMR alone.
Average FMRs for the Hartford-West Hartford-East Hartford, CT MSA typically range around $1000 to $1400 for a one-bedroom unit and $1300 to $1700 for a two-bedroom unit, according to recent HUD guidelines. Given that the FMR for 06115 is $1650, we can assume this reflects a two-bedroom unit's average cost, placing it towards the higher end of the typical FMR range for the metro.
The lack of specific market rent and home value data makes it challenging to definitively categorize 06115 as a value pocket, mid-tier neighborhood, or premium sub-market. However, the FMR suggests that it leans towards being a premium sub-market, given its higher-than-average FMR.
The absence of a reported renter share percentage means we cannot determine if there is a high concentration of renters, which could indicate a strong demand for rental properties. Typically, ZIP codes with a high renter share and lower home values signal potential Section 8 sweet spots, but without this information, such an inference cannot be made for 06115.
To accurately assess whether 06115 is a value pocket, mid-tier neighborhood, or premium sub-market, one would need to gather additional data on market rents and home values. The current FMR figure, however, indicates a potentially lucrative area for investment, particularly in properties that can accommodate families needing larger units.
Data Sources: FMR data from HUD (2027).
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.