Section 8 Fair Market Rent (FMR) for ZIP 06404 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,870
1 Bedroom	$2,320
2 Bedrooms	$2,690
3 Bedrooms	$3,230
4 Bedrooms	$4,010
5 Bedrooms	$4,652
6 Bedrooms	$5,210
7 Bedrooms	$5,627
8 Bedrooms	$5,908

The Fair Market Rent (FMR) for ZIP 06404 in fiscal year 2024 is set at $2320. This figure represents the maximum amount that a landlord can charge under the Section 8 program. Despite the lack of specific market rent data, the FMR serves as a benchmark for evaluating rental properties in this area.

With the FMR at $2320, landlords can assess their rental rates and determine if they align with the government's guidelines. This ensures compliance with the program while also providing a competitive edge in the rental market.

The absence of median home value and median income data means that we cannot provide a direct comparison between these metrics and the FMR. However, the FMR itself offers a clear indication of the rental market dynamics in ZIP 06404.

The lack of data on days on market (DOM) and the percentage of price-cut share suggests that there isn't enough information to gauge the speed at which properties are sold or the frequency of price reductions in this ZIP code. This could imply a stable market with fewer fluctuations.

Given the specific FMR of $2320, landlords and small-portfolio investors should consider this figure when setting rental prices and managing properties within ZIP 06404. The stability implied by the lack of DOM and price-cut share data supports a long-term investment strategy.

Verdict: ZIP 06404 presents a solid opportunity for Section 8 investments with a defined FMR of $2320, indicating a stable rental market.

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.