Location: Hartford-West Hartford-East Hartford, CT | Metro: Hartford-West Hartford-East Hartford, CT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,720 |
| 1 Bedroom | $1,960 |
| 2 Bedrooms | $2,460 |
| 3 Bedrooms | $2,960 |
| 4 Bedrooms | $3,290 |
| 5 Bedrooms | $3,816 |
| 6 Bedrooms | $4,274 |
| 7 Bedrooms | $4,616 |
| 8 Bedrooms | $4,847 |
U.S. Census Bureau data (2024)
ZIP code 06467, located within the Hartford-West Hartford-East Hartford, CT MSA, exhibits distinct characteristics that set it apart from other ZIP codes in the region. Its Fair Market Rent (FMR) for FY 2024 is set at $1640, which is a key figure for landlords and investors considering Section 8 properties.
The lack of available market rent and home value data for ZIP 06467 makes direct comparisons challenging; however, the high renter share of 57.7% is noteworthy. This percentage is significantly higher than the typical renter share in most ZIP codes within the Hartford MSA, which generally ranges between 30-45%. A high renter share typically indicates a larger population of renters, which can be beneficial for landlords looking to maintain occupancy rates.
To determine if ZIP 06467 is a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro, we must consider the implications of its FMR and renter share. Given the absence of market rent and home value data, we cannot definitively categorize it without further analysis. However, the high renter share combined with the specific FMR figure suggests that it could be an attractive area for Section 8 tenants.
In ZIP codes where the renter share is high and home values are below average, these areas often become sweet spots for Section 8 investment due to the balance between affordable rents and a strong demand from renters. Although we do not have the exact home value figures for ZIP 06467, its high renter share with a specific FMR of $1640 implies it might be a value pocket within the Hartford MSA. Landlords and investors should explore additional data points such as local median incomes and housing availability to confirm this hypothesis.
A value pocket within a metro typically offers lower costs relative to other areas while still maintaining desirable amenities and access to employment opportunities. If ZIP 06467 indeed has lower home values compared to the broader Hartford MSA, it would likely attract a significant number of renters, including those eligible for Section 8 assistance.
Investors should also be aware of the potential for increased competition in ZIP codes with high renter shares. The presence of a large number of renters may draw more property owners into the area, seeking to capitalize on the demand. Therefore, understanding the local rental market dynamics is crucial for making informed investment decisions.
In summary, based on the available data, ZIP 06467 appears to be a promising area for Section 8 investment within the Hartford MSA, primarily due to its high renter share and specified FMR. Further investigation into home values and rental market conditions will provide a clearer picture of its position as a value pocket, mid-tier neighborhood, or premium sub-market.
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.