Section 8 Fair Market Rent (FMR) for ZIP 06374 - 2027

Location: Northeastern Connecticut Planning Region, CT | Metro: Norwich-New London-Willimantic, CT MSA

Investment Score for ZIP 06374

Monthly Rent (2BR)

$1,680

Median Price (2BR)

$287,752

1% Rule

0.58%

Annual Yield

7.01%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,160
1 Bedroom	$1,350
2 Bedrooms	$1,680
3 Bedrooms	$2,170
4 Bedrooms	$2,690
5 Bedrooms	$3,120
6 Bedrooms	$3,494
7 Bedrooms	$3,774
8 Bedrooms	$3,963

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,680	$287,752	0.58%	F
3BR	$2,170	$351,519	0.62%	D
4BR	$2,690	$384,175	0.7%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

7,838

Median Household Income

$71,882

Housing Units

3,293

Renter Percentage

27.9%

Occupancy Rate

96.7%

Renter Occupied

889

Plainfield, Connecticut, located in Hartford County, is a suburban town that offers a mix of residential and commercial properties, making it an attractive market for both landlords and small-portfolio investors. The town's proximity to major urban centers and its relatively low cost of living contribute to its appeal.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP code 06374 for fiscal year 2024 is set at $1,490.
The average market rent for a similar unit, according to the Census American Community Survey (ACS), stands at $1,302.
The median home value in Plainfield is $334,165, which reflects the town's balanced real estate market.
Renters make up 27.9% of the housing market, indicating a significant demand for rental properties.
The median household income in the area is $71,882, suggesting a stable economic base for potential tenants.
The number of days on the market (DOM) for rental properties is currently not available, but given the other indicators, it is likely competitive with surrounding areas.

Analyzing these points, Plainfield presents a favorable investment climate. With a higher FMR compared to the actual market rent, there is potential for rental rate increases. The median home value indicates that the area is neither overpriced nor underpriced, offering a reasonable entry point for property acquisition. A quarter of the population renting signifies a steady demand for rental units. Lastly, the median income level supports the ability of residents to meet rental costs comfortably. For investors, focusing on properties that can command closer to the FMR levels while maintaining affordability for tenants could yield solid returns.

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.