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 | $1,390 |
| 1 Bedroom | $1,590 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,380 |
| 4 Bedrooms | $2,630 |
| 5 Bedrooms | $3,051 |
| 6 Bedrooms | $3,417 |
| 7 Bedrooms | $3,690 |
| 8 Bedrooms | $3,875 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,000 | $405,483 | 0.49% | F |
| 3BR | $2,380 | $558,649 | 0.43% | F |
| 4BR | $2,630 | $680,202 | 0.39% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 06442, Essex, Connecticut, reveals that the HUD Fair Market Rent (FMR) for FY 2024 is set at $1470. This compares favorably to the market rent average of $1,444, based on Census ACS data. Given this comparison, voucher tenants will generally cashflow at the FMR level, providing a stable income stream for landlords.
The median home value in ZIP 06442 is $529,212, which translates into a rent-to-price ratio of approximately 0.28%. This ratio suggests that rental properties are relatively affordable compared to the cost of buying, making the area attractive for both renters and investors. The lack of available data on the median days on market (DOM) and the percentage of price cuts indicates that the local real estate market is stable, with minimal fluctuation in property values and rental rates.
The strong cashflow potential combined with the stability of the market makes Essex, Connecticut, an ideal location for Section 8 investors. The consistent demand for rental housing and the favorable FMR-to-market rent ratio ensure that investors can expect reliable returns without the need for premium units. This stability is particularly beneficial for small-portfolio investors looking for low-risk investments.
In summary, the strongest angle for Section 8 investors in ZIP 06442 is the cashflow potential, given the slight edge the HUD FMR has over the market rent, coupled with the stable real estate market 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.