Section 8 Fair Market Rent (FMR) for ZIP 06127 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 06127 in Connecticut for fiscal year 2024 is set at $1650. This figure represents the maximum amount the Housing Choice Voucher program, commonly known as Section 8, will pay towards the rent of eligible participants. It's important to note that this is not the rent you'll charge your tenant; it's the reimbursement limit from the government.

In ZIP 06127, the FMR of $1650 is the benchmark used to determine the rent that voucher holders can be asked to pay. The rent you set must be reasonable and competitive with market rates, but cannot exceed the FMR plus any additional amount agreed upon for utilities and other services.

The data indicates that the percentage of renters in the area is N/A%, suggesting a significant demand for rental properties. However, since the average rent price for the area is listed as N/A, we can't directly compare it to the FMR. Similarly, the median home value is also listed as N/A, which would typically help in understanding the acquisition cost of properties in the area.

To proceed confidently with your first Section 8 rental property in ZIP 06127, verify the following: the actual market rent for similar properties in the area. Ensure that the rent you set, while not exceeding the FMR, is still competitive enough to attract tenants and cover your costs. This step is crucial as it directly impacts your financial viability as a landlord.

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.