Section 8 Fair Market Rent (FMR) for ZIP 06602 - 2027

FY 2027 Fair Market Rent Rates

2370 is the Fair Market Rent (FMR) for ZIP code 06602 in Connecticut for fiscal year 2024. This figure represents the maximum amount that a landlord can charge a Section 8 tenant for rent in this area. Despite the N/A for market rent, median home value, and other key metrics, the FMR stands out as a critical benchmark for rental properties in this region. The N/A for the median income suggests that comprehensive economic data might not be available, but it does not detract from the importance of aligning your rental pricing with the 2370 FMR. Given the N/A days on market (DOM), it's crucial to ensure your property is priced correctly to attract tenants quickly. With a N/A% share of homes experiencing price cuts, it indicates that there is no significant trend of lowering prices in the area, which could suggest stable demand for rentals. However, the lack of detailed local economic indicators means that landlords must rely heavily on the 2370 FMR to guide their investment decisions. This reliance is particularly important because the N/A% of renters in the area implies an unknown share of potential Section 8 tenants. In conclusion, while specific economic data is lacking, adhering to the 2370 FMR will likely position your property well in the rental market. For landlords and small-portfolio investors in ZIP 06602, participating in the Section 8 program remains a viable strategy to ensure steady occupancy and income.

2370 is the Section 8 verdict for ZIP code 06602.

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.