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 06123 is located in Hartford, Connecticut, representing a large-sized community with diverse demographics. There are 46,123 residents, and the median household income is $51,123. The median home value stands at $191,506.
Section 8 rent economics in ZIP 06123 show a Federal Market Rent (FMR) of $1,650 for fiscal year 2024, compared to the current median rent of $1,420. This indicates that there is a premium for federally subsidized rentals in the area.
The community fits well for a hands-on value-add buyer rather than a hands-off voucher operator. With a median age of 30.5 years and a cost of living index of 59 (below the national average), the area offers opportunities for landlords who can renovate and improve properties to command higher rents. The lower unemployment rate of 6.4% and a strong labor force of 26,105 residents suggest a stable economic environment where demand for housing can be sustained.
Investors should consider the area’s livability score of 77 out of 100, which reflects a good quality of life despite moderate safety concerns. The overall cost index being below average presents a chance for higher returns on investment through rental pricing adjustments.
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.