Location: Bridgeport-Stamford-Danbury, CT | Metro: Bridgeport-Stamford-Danbury, CT MSA
| 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 |
U.S. Census Bureau data (2024)
To determine if a landlord should buy in ZIP 06610 (Bridgeport, CT) for Section 8 investment, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $1750 cover the debt service on a $290,047 property?
No: The FMR of $1750 does not sufficiently cover the debt service for a property priced at $290,047. This makes it an unprofitable venture strictly from a Section 8 perspective.
Yes: Proceed to the next question.
2) How does the market rent ($1,983 ZORI) compare to the FMR?
Above FMR: The ZORI of $1,983 indicates that market rents are higher than the FMR of $1750. This suggests that landlords could potentially earn more from private tenants than from Section 8 vouchers, making the area less attractive for Section 8 investments.
At or Below FMR: Proceed to the next question.
3) Is there sufficient demand with 50.6% renters and N/A-day days on market (DOM)?
It Depends: With 50.6% of the population being renters, there is moderate demand for rental properties. However, the lack of data on days on market (DOM) makes it difficult to assess how quickly properties can be leased. Additionally, the comparison between market rent and FMR must be considered. If market rents are significantly higher, it might be more advantageous to target non-Section 8 tenants.
In conclusion, ZIP 06610 is not ideal for a strict Section 8 investment strategy due to the high property values relative to the FMR. Landlords should consider the potential for higher returns from market-rate tenants before deciding to invest in this area.
Data Sources: FMR data from HUD (2027). 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.