Location: New Haven, CT | Metro: New Haven, 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 | $2,240 |
| 1 Bedroom | $2,430 |
| 2 Bedrooms | $2,910 |
| 3 Bedrooms | $3,620 |
| 4 Bedrooms | $4,080 |
| 5 Bedrooms | $4,733 |
| 6 Bedrooms | $5,301 |
| 7 Bedrooms | $5,725 |
| 8 Bedrooms | $6,011 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,430 | $320,856 | 0.76% | D |
| 2BR | $2,910 | $548,968 | 0.53% | F |
| 3BR | $3,620 | $661,935 | 0.55% | F |
| 4BR | $4,080 | $840,691 | 0.49% | F |
| 5BR | $4,733 | $1,245,484 | 0.38% | F |
U.S. Census Bureau data (2024)
The ZIP code 06443, located in Madison, CT, is situated within the New Haven, CT Metropolitan Statistical Area (MSA). When comparing the specific figures of ZIP 06443 to those of typical ZIP codes within the New Haven MSA, it becomes evident that 06443 represents a premium sub-market.
The Fair Market Rent (FMR) for ZIP 06443 in fiscal year 2024 is set at $2080. This figure is notably higher than the average market rent of $2,025 for the area, indicating a slightly more expensive rental market. The median home value in ZIP 06443 stands at $701,495, which is significantly above the typical home values seen in other ZIP codes within the New Haven MSA. This suggests that the housing stock in ZIP 06443 is generally of higher quality and cost.
ZIP 06443 has a renter share of 9.6%, which is relatively low compared to the typical renter share found in many urban areas of the New Haven MSA. This percentage implies that the majority of residents own their homes rather than renting, which is characteristic of more affluent suburban areas.
In summary, ZIP 06443 is a premium sub-market within the New Haven, CT MSA. Its higher FMR and median home value indicate a more upscale environment where property owners can expect to command higher rents and property prices. However, the lower renter share means that fewer properties will be occupied by renters, potentially limiting the number of units that might qualify for or benefit from Section 8 programs.
Despite the premium nature of the market, the slight disparity between the FMR and market rent, along with the modest renter share, does not suggest a typical Section 8 sweet spot. Instead, landlords and small-portfolio investors should focus on the higher-end market opportunities available in ZIP 06443.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.