Location: Northwest Hills Planning Region, CT | Metro: Northwest Hills Planning Region, CT
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 | $1,510 |
| 1 Bedroom | $1,780 |
| 2 Bedrooms | $2,180 |
| 3 Bedrooms | $2,810 |
| 4 Bedrooms | $3,170 |
| 5 Bedrooms | $3,677 |
| 6 Bedrooms | $4,118 |
| 7 Bedrooms | $4,447 |
| 8 Bedrooms | $4,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,180 | $410,360 | 0.53% | F |
| 3BR | $2,810 | $545,000 | 0.52% | F |
| 4BR | $3,170 | $718,611 | 0.44% | F |
| 5BR | $3,677 | $1,189,701 | 0.31% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 06756, Goshen, Connecticut, stands at $160,815. This figure is crucial when considering the rental market dynamics, especially for landlords and small-portfolio investors. The Census Bureau's American Community Survey (ACS) indicates a market rate of $1,211 for rentals in this area. Given the median income, it's clear that households can comfortably afford this market rate. However, the comparison with the Fair Market Rent (FMR) voucher payment standard of $2,420 for the metro area in fiscal year 2026 presents a stark contrast.
The discrepancy between the actual market rate and the FMR voucher payment standard highlights a significant affordability gap. At $1,211, the average rent is less than half of what the voucher program considers fair. This suggests that tenants receiving vouchers might find the cost of renting in Goshen substantially lower than their entitlements, potentially leading to an oversupply of funds relative to local costs.
With only 11.0% of the 3,037 residents being renters, the competition among landlords is relatively low. This means that landlords have fewer peers to compete against for tenants, but it also implies a smaller pool of potential renters. The affordability gap could incentivize some landlords to accept voucher payments, given the financial backing they provide. However, others might prefer cash-paying tenants who can afford higher rents closer to the FMR, thereby maximizing their revenue.
The takeaway for landlords in Goshen is that while accepting voucher payments ensures a steady stream of income, it might not be the most financially beneficial strategy compared to attracting cash-paying tenants. Landlords should carefully consider the balance between the security of guaranteed rent through voucher programs and the potential for higher earnings by catering to those who can pay more. Given the high median income, there is likely a strong presence of cash-paying tenants willing to meet or exceed the market rate, making it a viable option for landlords looking to optimize their investment returns.
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.