Location: Waterbury-Shelton, CT | Metro: Bridgeport-Stamford-Danbury, 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 | $1,560 |
| 1 Bedroom | $1,890 |
| 2 Bedrooms | $2,260 |
| 3 Bedrooms | $2,740 |
| 4 Bedrooms | $3,240 |
| 5 Bedrooms | $3,758 |
| 6 Bedrooms | $4,209 |
| 7 Bedrooms | $4,546 |
| 8 Bedrooms | $4,773 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,890 | $341,605 | 0.55% | F |
| 2BR | $2,260 | $467,966 | 0.48% | F |
| 3BR | $2,740 | $608,408 | 0.45% | F |
| 4BR | $3,240 | $784,768 | 0.41% | F |
| 5BR | $3,758 | $862,198 | 0.44% | F |
U.S. Census Bureau data (2024)
1970 is the Fair Market Rent (FMR) for ZIP 06468, Monroe, CT, for fiscal year 2024. 994 is the average market rent based on Census ACS data, indicating a significant gap between the FMR and actual market rates. 626,186 represents the median home value in this area, reflecting a robust housing market. The renter share stands at 4.3%, suggesting a relatively stable tenant population. 157,250 is the median income figure, which is crucial for understanding the economic profile of potential tenants. 33 days is the average Days on Market (DOM) for rental properties, pointing towards a competitive rental market where properties move quickly. 0.1% is the share of listings that require price cuts, showing that landlords can generally set firm prices without needing to adjust downwards frequently.
The disparity between the $1,970 FMR and the $994 market rent presents an opportunity for landlords to leverage Section 8 vouchers effectively. Given the $626,186 median home value, it's clear that the area is affluent, yet the 4.3% renter share suggests a niche but steady demand for rentals. The $157,250 median income supports the notion that tenants can afford higher rents, aligning well with the FMR. With a 33-day DOM, landlords should be prepared to act swiftly to secure tenants. The minimal 0.1% price-cut share underscores the strength of the rental market, allowing landlords to maintain their asking prices.
For landlords and small-portfolio investors in ZIP 06468, the verdict on Section 8 participation is positive, given the alignment between voucher amounts and local 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.