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 | $1,170 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,680 |
| 3 Bedrooms | $2,000 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,680 | $323,384 | 0.52% | F |
| 3BR | $2,000 | $424,628 | 0.47% | F |
| 4BR | $2,210 | $500,824 | 0.44% | F |
U.S. Census Bureau data (2024)
The median household income in ZIP 06469, which covers East Haddam, Connecticut, stands at $104,888. This figure is crucial when considering rental affordability. The market rate for rent in this area is $1,196 according to the latest Census ACS data. To put this into perspective, the average renter would need to allocate approximately 11.4% of their annual income towards rent at the market rate. This calculation is derived from the monthly rent of $1,196 multiplied by 12 months, equating to an annual expenditure of $14,352. When compared to the median income, it suggests that renting at market rates is manageable but leaves little room for other significant expenses.
The voucher payment standard for the fiscal year 2024 in this ZIP code is set at $1,550. This is notably higher than the market rate of $1,196. Landlords who accept vouchers will receive a higher rent payment, but it also means they must comply with federal standards and regulations associated with the Section 8 program. The discrepancy between the market rate and the voucher standard highlights a potential opportunity for landlords to increase their rental income by participating in the voucher program.
In ZIP 06469, 24.8% of the population are renters, with a total population of 3,311. This indicates a relatively small rental market, with only around 820 households likely to be in the market for rental properties. Given the limited number of renters and the affordability gap between median income and both market and voucher rates, competition among landlords could be fierce. Properties that offer amenities or are in high-demand locations may command closer to the voucher standard, while others might struggle to compete against the market rate.
The takeaway for landlords considering voucher versus cash-pay strategies is clear. While accepting vouchers guarantees a higher rent payment, it comes with additional responsibilities and compliance requirements. For those willing to navigate these demands, there is a financial incentive. However, landlords should also consider the size of the rental market and the competition they face. In ZIP 06469, where the rental market is smaller and the income levels are relatively high, focusing on cash-paying tenants might be a viable strategy if the landlord can position their property effectively within the local rental landscape.
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.