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 | $1,310 |
| 1 Bedroom | $1,500 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,470 |
| 5 Bedrooms | $2,865 |
| 6 Bedrooms | $3,209 |
| 7 Bedrooms | $3,466 |
| 8 Bedrooms | $3,639 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,880 | $356,062 | 0.53% | F |
| 3BR | $2,240 | $452,938 | 0.49% | F |
| 4BR | $2,470 | $608,071 | 0.41% | F |
| 5BR | $2,865 | $754,883 | 0.38% | F |
U.S. Census Bureau data (2024)
ZIP code 06447 in Marlborough, CT, is characterized by a relatively small population of 6,130 residents, with only 7.4% being renters. This indicates a predominantly owner-occupied community where most residents own their homes. The median household income in this area is notably high at $142,105, reflecting a prosperous neighborhood. The median home value stands at $462,274, which is indicative of the overall wealth and property values in Marlborough.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 06447 for fiscal year 2024 is set at $1,680. In contrast, the average market rent based on Census ACS data is $1,333. This discrepancy between the FMR and the actual market rent suggests that landlords participating in the Section 8 program could potentially see higher returns compared to the local market rates. However, it also implies that the demand for subsidized housing might be lower due to the general affluence of the area.
Given these conditions, Marlborough's ZIP 06447 would likely appeal more to a hands-on value-add buyer rather than a hands-off voucher operator. The limited number of renters and the high median income indicate that tenants who qualify for Section 8 assistance might be few and far between. For a landlord looking to manage properties without active involvement, this ZIP code presents challenges due to the low percentage of renters and the potential difficulty in finding qualified Section 8 tenants. Conversely, for an investor willing to actively manage and improve properties to attract both market-rate and voucher-assisted tenants, there is room to capitalize on the higher FMR while offering quality housing in a desirable location.
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.