Location: Hartford-West Hartford-East Hartford, CT | Metro: Hartford-West Hartford-East Hartford, CT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,900 |
| 1 Bedroom | $2,180 |
| 2 Bedrooms | $2,730 |
| 3 Bedrooms | $3,250 |
| 4 Bedrooms | $3,590 |
| 5 Bedrooms | $4,164 |
| 6 Bedrooms | $4,664 |
| 7 Bedrooms | $5,037 |
| 8 Bedrooms | $5,289 |
U.S. Census Bureau data (2024)
ZIP 06439, located within the Hartford-West Hartford-East Hartford, CT MSA metro area, can serve as an appreciation play within a Section 8 portfolio strategy. Although the specific data points such as the market rental rate, median home value, and percentage of price-cut share are currently unavailable, the high median income of $187,083 indicates that residents in this ZIP code have a strong financial capacity.
The Fair Market Rent (FMR) for a one-bedroom unit in ZIP 06439 for fiscal year 2024 is set at $1560. This figure is crucial for landlords participating in the Section 8 program as it dictates the maximum allowable rent for subsidized units. The high median income suggests that there is a significant demand for higher-quality housing options, which can translate into long-term property value appreciation.
Despite the lack of specific metrics on days on market (DOM) and price-cut share, the high median income implies that the local economy is robust. This strength can support rising property values over time, making ZIP 06439 a strategic choice for investors looking to build equity through appreciation rather than focusing solely on rental income.
A key consideration for landlords is the low renter share of 0.0%, indicating that homeownership is prevalent in this ZIP code. However, this does not preclude the possibility of successful Section 8 investments. Instead, it highlights the importance of targeting properties that offer quality living conditions, aligning with the financial capabilities of the residents.
In summary, ZIP 06439 stands out as an appreciation play due to its high median income and the potential for sustained economic growth. Landlords should focus on properties that can attract tenants willing to pay closer to the FMR of $1560, leveraging the strong local economy to ensure steady increases in property value over time.
Data Sources: FMR data from HUD (2027). 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.