Location: New Haven, CT | Metro: New Haven, CT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,620 |
| 1 Bedroom | $1,750 |
| 2 Bedrooms | $2,100 |
| 3 Bedrooms | $2,610 |
| 4 Bedrooms | $2,950 |
| 5 Bedrooms | $3,422 |
| 6 Bedrooms | $3,833 |
| 7 Bedrooms | $4,140 |
| 8 Bedrooms | $4,347 |
The ZIP code 06502 in New Haven County stands out due to limited available data, which includes an unspecified number of residents, an unknown percentage of renters, undefined median income, and an unreported median home value. This scarcity of specific demographic details can make it challenging to assess the typical characteristics of the area's population and housing market.
However, the economic viability of Section 8 vouchers in this ZIP code can be gauged through the Fair Market Rent (FMR) figure. For fiscal year 2024, the FMR in ZIP 06502 is set at $1620. While the exact market rent is not specified, this FMR provides a benchmark for rental costs that landlords can expect when participating in the Section 8 program. Landlords should note that this FMR is intended to cover a broad range of units, including both single-family homes and apartments, ensuring that tenants can find affordable housing options.
Given the lack of detailed market rent data, it's advisable for landlords to conduct their own research to understand how the $1620 FMR compares to local rental prices. This will help them determine if accepting Section 8 vouchers is financially viable for their properties. The absence of clear trends or significant changes in the provided data suggests that the ZIP code might be considered stable, though further investigation into local economic conditions would provide a more comprehensive picture.
To conclude, while the data signature for ZIP 06502 lacks specificity in key areas, the $1620 FMR offers a concrete starting point for landlords interested in the Section 8 program. This ZIP code appears stable based on the available information, but landlords should still consider the broader economic context and perform additional due diligence before making decisions about accepting vouchers.
Data Sources: FMR data from HUD (2027).
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.