Location: Northeastern Connecticut Planning Region, CT | Metro: Northeastern Connecticut Planning Region, CT
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $362,313 | 0.36% | F |
| 3BR | $1,650 | $446,938 | 0.37% | F |
| 4BR | $1,750 | $490,862 | 0.36% | F |
U.S. Census Bureau data (2024)
The ZIP code 06242, located in Eastford, Connecticut, stands out within Windham County due to its relatively small population of 1,290 residents, with only 14.9% of them renting their homes. The median household income in Eastford is $89,250, indicating a higher-than-average economic status compared to many other areas in the state. Additionally, the median home value of $396,622 reflects a strong real estate market where homeownership is both prevalent and valuable.
When it comes to Section 8 voucher economics, the disparity between the Fair Market Rent (FMR) and the actual market rent is significant. For fiscal year 2024, the FMR set at $1,380 is notably higher than the Census ACS-reported market rent of $1,063. This discrepancy means that landlords accepting Section 8 vouchers in Eastford can expect to receive a higher rental rate than the typical market conditions would suggest, making it an attractive option for those who wish to tap into federal subsidies while maintaining competitive rents.
The data signature for ZIP 06242 suggests a stable environment. With a high median income and home values, the area demonstrates financial stability among its residents. Furthermore, the low percentage of renters indicates a preference for homeownership, which generally correlates with long-term stability and lower turnover rates. While the voucher economics present an opportunity for landlords to potentially earn above-market rents, the overall demographic trends point towards a community that is unlikely to undergo rapid changes in the near future.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
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.