Location: Northwest Hills Planning Region, CT | Metro: Northwest Hills Planning Region, CT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,510 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
U.S. Census Bureau data (2024)
The classification of ZIP code 06763 in Morris, Connecticut, reveals a market that leans towards a steady cash flow zone rather than a high-yield/low-stability flip-style market. This conclusion is driven by the following figures:
On the yield axis, the Fair Market Rent (FMR) for the Morris area in fiscal year 2026 is set at $1,490. However, the actual market rent is lower at $1,204. The median home value is significantly higher at $517,828. These numbers suggest that while rental yields can be competitive, they do not drastically outpace the market average, indicating a moderate rather than high yield environment.
Moving to the stability axis, the percentage of renters is relatively low at 10.7%. This figure implies that homeownership is predominant in the area, which typically correlates with greater market stability. The median household income is substantial at $109,853, further supporting the idea that tenants in this area have a strong financial foundation, likely leading to lower vacancy rates and fewer delinquencies. The lack of available data on days on market (DOM) suggests either limited turnover or a lack of comprehensive tracking mechanisms, both of which could contribute to stability but also indicate less frequent opportunities for rapid property flips.
Given these metrics, ZIP 06763 presents itself as a zone with steady cash flow potential. While the yield is not exceptionally high, the strong median income and low percentage of renters point towards a stable investment environment. Landlords and small-portfolio investors seeking consistent returns over time would find this area favorable, as it minimizes risk associated with tenant turnover and economic volatility.
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.