Location: Bridgeport-Stamford-Danbury, CT | Metro: Bridgeport-Stamford-Danbury, 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 | $1,560 |
| 1 Bedroom | $1,890 |
| 2 Bedrooms | $2,260 |
| 3 Bedrooms | $2,740 |
| 4 Bedrooms | $3,240 |
| 5 Bedrooms | $3,758 |
| 6 Bedrooms | $4,209 |
| 7 Bedrooms | $4,546 |
| 8 Bedrooms | $4,773 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,260 | $247,463 | 0.91% | C |
| 3BR | $2,740 | $313,627 | 0.87% | C |
| 4BR | $3,240 | $356,387 | 0.91% | C |
U.S. Census Bureau data (2024)
The Section 8 cap rate scenario for ZIP code 06608 in Bridgeport, CT, can be analyzed using the Fair Market Rent (FMR) and Zillow's Observed Rent Index (ZORI) figures. For a two-bedroom unit, the annualized FMR is $1880 multiplied by 12 months, equating to $22,560 per year. The ZORI, representing market rent, is set at $1,890 per month, or $22,680 annually.
To derive the gross yield, we divide these annual rents by the median home value of $290,768. Using the FMR, the gross yield is calculated as follows:
$22,560 / $290,768 = 0.0776 or 7.76%
With the ZORI, the gross yield is slightly higher:
$22,680 / $290,768 = 0.0779 or 7.79%
The difference between these yields is minimal, indicating that the Section 8 rental income closely mirrors the market rent for this ZIP code. However, the choice of which figure to use depends on the realities of the local housing market.
Bridgeport's high renter density of 75.4% suggests a strong demand for rental properties, which could favor the use of market rent figures in investment calculations. This is because a dense rental market typically means less vacancy and more competition among renters, driving up actual rental rates closer to market values.
The N/A-day DOM (Days on Market) indicates incomplete data regarding how quickly properties are rented out, which could mean either very quick turnover or an issue with data reporting. Assuming the former, a fast rental process supports the likelihood of achieving market rents.
Given these factors, while the FMR provides a conservative estimate useful for ensuring compliance with federal guidelines, the ZORI offers a more accurate reflection of potential earnings. Investors should consider the ZORI of $1,890 per month as the basis for their gross yield calculations, yielding approximately 7.79%, when evaluating the viability of Section 8 properties in ZIP 06608.
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.