Location: Hartford-West Hartford-East Hartford, CT | Metro: Hartford-West Hartford-East Hartford, CT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,380 |
| 1 Bedroom | $1,580 |
| 2 Bedrooms | $1,980 |
| 3 Bedrooms | $2,360 |
| 4 Bedrooms | $2,600 |
| 5 Bedrooms | $3,016 |
| 6 Bedrooms | $3,378 |
| 7 Bedrooms | $3,648 |
| 8 Bedrooms | $3,830 |
U.S. Census Bureau data (2024)
The classification of ZIP code 06459 hinges upon the available data points for fiscal year 2024, which indicate a unique market scenario. With a Fair Market Rent (FMR) of $1690 for the zip code in fiscal year 2024, there's a clear lack of comparative market rent data and home value statistics, rendering an incomplete picture of the yield potential. However, the 100.0% figure for renters suggests a stable demand for rental properties.
The absence of specific figures for market rent and home values makes it challenging to determine the precise yield potential. Typically, a high-yield market would present a significant gap between the FMR and the local market rent, indicating a higher profit margin for landlords. Conversely, a steady-cashflow zone would likely have a closer alignment between these figures, ensuring consistent but moderate returns.
The stability aspect of ZIP 06459 is bolstered by the 100.0% renter statistic, implying a robust demand for rentals. This high percentage of renters can mitigate risks associated with vacancy rates, contributing to a stable cash flow. However, without data on days-on-market (DOM) and median income, it's difficult to assess the broader economic stability of the area.
Given the limited data, ZIP 06459 appears to be more of a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The full occupancy rate suggests that properties will likely generate reliable income, though the exact yield cannot be determined without additional market and home value data.
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.