Location: Waterbury-Shelton, CT | Metro: Waterbury-Shelton, 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 | $1,770 |
| 1 Bedroom | $1,890 |
| 2 Bedrooms | $2,470 |
| 3 Bedrooms | $3,090 |
| 4 Bedrooms | $3,680 |
| 5 Bedrooms | $4,269 |
| 6 Bedrooms | $4,781 |
| 7 Bedrooms | $5,163 |
| 8 Bedrooms | $5,421 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,890 | $223,889 | 0.84% | C |
| 2BR | $2,470 | $309,261 | 0.8% | D |
| 3BR | $3,090 | $495,794 | 0.62% | D |
| 4BR | $3,680 | $726,376 | 0.51% | F |
| 5BR | $4,269 | $822,344 | 0.52% | F |
U.S. Census Bureau data (2024)
2130 is the Fair Market Rent (FMR) for ZIP code 06488, Southbury, CT, set for fiscal year 2024. This figure represents the upper limit for monthly rental costs under the Section 8 program. In comparison, the market rent for the area, as reported by the Census Bureau's American Community Survey, stands at 1935 dollars, indicating that the FMR is slightly above the average market rate. The median home value in Southbury is 444505 dollars, reflecting a robust housing market. However, only 11.8 percent of the population are renters, suggesting a relatively low demand for rental properties compared to homeownership. The median income in the area is 112887 dollars, which is an important consideration for landlords when assessing the financial stability of potential tenants. Properties in Southbury typically spend 36 days on the market before being rented out, a figure that highlights a moderate turnover rate. Furthermore, the price-cut share is a mere 0.2 percent, indicating that landlords rarely need to reduce their asking prices to attract tenants. Given these numbers, the Section 8 program offers a viable option for landlords in Southbury, with a fair balance between market rents and the program's payment standards, ensuring steady occupancy without significant concessions.
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.