Location: Norwich-New London-Willimantic, CT | Metro: Norwich-New London-Willimantic, CT MSA
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 | $1,290 |
| 1 Bedroom | $1,480 |
| 2 Bedrooms | $1,850 |
| 3 Bedrooms | $2,350 |
| 4 Bedrooms | $2,910 |
| 5 Bedrooms | $3,376 |
| 6 Bedrooms | $3,781 |
| 7 Bedrooms | $4,083 |
| 8 Bedrooms | $4,287 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,850 | $330,856 | 0.56% | F |
| 3BR | $2,350 | $407,007 | 0.58% | F |
| 4BR | $2,910 | $479,655 | 0.61% | D |
U.S. Census Bureau data (2024)
The market in ZIP 06334, Bozrah, Connecticut, reveals a dynamic equilibrium between supply and demand, leaning slightly towards a balanced market with potential for demand to rise. The Fair Market Rent (FMR) for the area, set at $1,410 for zip FY 2024, closely aligns with the market rent of $1,438 reported by the Census American Community Survey (ACS). This suggests that rental prices are reflective of the actual market conditions, indicating a relatively stable environment without significant price distortions.
A notable aspect of the Bozrah market is the median home value, which stands at $387,574. While this figure alone doesn't provide a complete picture of market dynamics, it underscores the economic value of the residential properties within the area. The absence of specific data on the percentage of price cuts and days on the market (DOM) indicates a lack of pronounced distress sales or prolonged listing periods, further supporting the notion of a balanced market.
The 12.0% renter share highlights an important characteristic of the local housing landscape. A lower renter share typically implies a higher proportion of homeownership, which can suggest less immediate pressure on rental markets. However, it also points to a long-term trend where housing demand could increase as younger demographics and new residents seek affordable options. Given that the majority of residents own their homes, any upward shift in the renter share could indicate growing interest in the area, potentially driving up both rental and property values.
In summary, ZIP 06334 presents a market where current conditions are stable, with rental prices accurately reflecting the fair market value. The median home value is indicative of a robust local economy, and the relatively low renter share suggests a predominantly homeowner-driven community. As the area continues to evolve, landlords and small-portfolio investors should remain vigilant to changes in the demographic makeup and economic trends that could influence future housing pressures.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.