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 06538 in New Haven, Connecticut, presents unique characteristics that distinguish it from other areas within South Central Connecticut. However, specific demographic data such as the number of residents, percentage renting, median income, and median home value are not available for this ZIP code, indicating a lack of comprehensive population data.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 06538 is set at $1620 for the fiscal year 2024. This figure serves as a benchmark for landlords and small-portfolio investors to understand the rental assistance provided through Section 8 vouchers. Without the exact market rent data, we can infer that the FMR is designed to reflect the average rental costs in the area, ensuring that tenants can afford decent housing.
The absence of detailed demographic and economic data suggests that ZIP 06538 might be classified as transitional. This classification implies that the area could be undergoing changes in its population structure, housing market dynamics, or both. For landlords and investors, this means keeping a close eye on local trends and adjusting strategies accordingly to capitalize on potential shifts in the market.
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.