Section 8 Fair Market Rent (FMR) for ZIP 06131 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 06131, located in Connecticut, offers a stable real estate market for landlords and small-portfolio investors. The area is characterized by its blend of residential neighborhoods, making it an attractive location for both homeowners and renters. Here is a detailed market analysis based on available data points.

• Fair Market Rent (FMR): For fiscal year 2024, the FMR for a one-bedroom apartment in ZIP 06131 is set at $1650. This figure serves as a benchmark for rental pricing and reflects the average rent that tenants can afford based on local income levels.
• Market Rent: Unfortunately, specific data on market rent for ZIP 06131 is currently unavailable. This gap in information makes it challenging to compare actual rental rates against the FMR.
• Median Home Value: Data indicating the median home value in ZIP 06131 is also not available, which means we cannot provide a direct comparison between home values and rental prices to assess investment opportunities.
• Renter Share: The percentage of residents who are renters in ZIP 06131 is not documented, limiting our understanding of the demand for rental properties in the area.
• Days on Market (DOM): Information regarding the typical number of days a property remains on the market before being rented out is missing, which would have been useful for gauging the speed of rental transactions.
• Median Income: The median income data for ZIP 06131 is not available, making it difficult to assess the financial capability of potential tenants or buyers.

In summary, while ZIP 06131 presents a stable real estate environment, critical data such as market rent, median home value, and renter demographics are currently unavailable. Landlords and investors should rely on the FMR of $1650 for one-bedroom units as a guide for setting competitive rental prices. However, without comprehensive data on local market conditions and tenant income, further research is necessary to fully understand the investment potential and risks associated with this area.

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.