Location: Hartford-West Hartford-East Hartford, CT | Metro: Hartford-West Hartford-East Hartford, 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 | $1,320 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,900 |
| 3 Bedrooms | $2,260 |
| 4 Bedrooms | $2,500 |
| 5 Bedrooms | $2,900 |
| 6 Bedrooms | $3,248 |
| 7 Bedrooms | $3,508 |
| 8 Bedrooms | $3,683 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,520 | $236,944 | 0.64% | D |
| 2BR | $1,900 | $306,877 | 0.62% | D |
| 3BR | $2,260 | $437,764 | 0.52% | F |
| 4BR | $2,500 | $560,536 | 0.45% | F |
| 5BR | $2,900 | $604,493 | 0.48% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 06424, East Hampton, Connecticut, stands at $123,680. This figure is crucial when considering the local rental market, where the average market rate is $1,408 per month according to Census ACS data. A household earning the median income would find it challenging to meet the market rate, especially when factoring in other living expenses.
Furthermore, the Federal Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1,840. This means that households relying on Section 8 vouchers face an even greater challenge in finding affordable housing, as the voucher amount exceeds the typical market rate. The gap between the median income and both the market rate and FMR highlights a significant affordability issue for renters in East Hampton.
Given that only 14.3% of the 12,751 population are renters, the competition among landlords for tenants is relatively low. However, the limited pool of potential renters increases the importance of appealing to those who can pay the market rate or accept Section 8 vouchers. Landlords must carefully consider their tenant selection strategy based on these dynamics.
The takeaway for landlords is clear: while accepting Section 8 vouchers ensures a steady stream of income, it also limits the number of potential tenants due to the higher voucher rates compared to the local median income. Landlords should weigh the benefits of cash-paying tenants against the security of government-backed vouchers. In East Hampton, focusing on attracting cash-paying tenants who can afford the market rate may be more advantageous, given the high FMR and the local economic conditions.
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.