Location: New Haven, CT | Metro: New Haven, 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 | $1,460 |
| 1 Bedroom | $1,580 |
| 2 Bedrooms | $1,900 |
| 3 Bedrooms | $2,360 |
| 4 Bedrooms | $2,670 |
| 5 Bedrooms | $3,097 |
| 6 Bedrooms | $3,469 |
| 7 Bedrooms | $3,747 |
| 8 Bedrooms | $3,934 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,580 | $150,398 | 1.05% | B |
| 2BR | $1,900 | $234,679 | 0.81% | C |
| 3BR | $2,360 | $352,977 | 0.67% | D |
| 4BR | $2,670 | $379,078 | 0.7% | D |
U.S. Census Bureau data (2024)
1500 FMR (Fair Market Rent) for ZIP 06513, New Haven, CT, indicates the rental housing market's upper limit set by HUD for fiscal year 2024. 1812 is the actual market rent (ZORI), showing a gap between the government-set rates and what tenants are willing to pay. 292920 is the median home value, reflecting the overall property values in the area. 59.7% of the population are renters, demonstrating a significant demand for rental properties. 48500 is the median income, suggesting the financial capacity of residents. N/A-day DOM (Days on Market) implies that properties are selling quickly, indicating a strong local real estate market. 0.1% is the price-cut share, which means very few listings are being discounted, further supporting the idea of a robust market.
Investors looking to enter the New Haven rental market should note these figures. The disparity between the 1500 FMR and the 1812 ZORI highlights an opportunity for landlords who can offer competitive amenities to attract tenants paying above the subsidized rate. With 59.7% of the population renting, there is a consistent need for quality rental units, and the quick sale times indicated by the N/A-day DOM suggest that properties are moving fast. The low 0.1% price-cut share underscores the sellers' confidence in the market, allowing them to maintain asking prices without concessions.
In conclusion, the 48500 median income supports the ability of residents to afford the 1812 market rent, making the ZIP 06513 a favorable location for landlords and small-portfolio investors. Given the high renter share and the strong market dynamics, the Section 8 program could be a valuable source of stable rental income. However, the 1500 FMR may limit the profitability for some properties compared to the higher market rents. For those interested in Section 8, it remains a viable option but should be considered alongside the broader rental market opportunities.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.