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 |
To profile ZIP code 06128 in Connecticut as a Section 8 tenant pool, we must rely on available data. The population, percentage of renters, and median household income are currently marked as N/A, which means specific numerical details are unavailable for a precise analysis.
Despite the lack of detailed demographic information, we can still draw some conclusions based on the existing framework. Section 8 housing, formally known as the Housing Choice Voucher program, aims to assist low-income families, the elderly, and the disabled in finding affordable rental housing. In areas with a high concentration of renters and lower median incomes, the demand for Section 8 vouchers tends to be higher.
The Fair Market Rent (FMR) for ZIP 06128 is set at $1650 for fiscal year 2024. This figure represents the maximum amount that landlords can charge tenants who receive Section 8 vouchers. It's important to note that actual market rents can vary widely from this figure, depending on property conditions, location within the ZIP code, and other factors.
Without specific income levels, it's challenging to determine exactly what percentage of local income is consumed by typical market rents. However, if we assume that the median income is below the threshold where FMR becomes a significant portion of monthly earnings, then it's likely that many residents would benefit from Section 8 assistance.
In ZIP 06128, landlords should anticipate a tenant pool that includes individuals and families seeking housing stability through government assistance programs. These tenants will have their rent subsidized up to the FMR level, making it easier for them to find suitable accommodation. Landlords need to ensure they comply with all regulations associated with accepting Section 8 vouchers, including maintaining properties to certain standards and reporting rental income accurately.
To gain a clearer picture of the tenant demand and characteristics in ZIP 06128, landlords and small-portfolio investors should consult local housing authorities and real estate agencies for more detailed insights into the current rental market trends and the proportion of renters utilizing Section 8 vouchers.
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.