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 | $1,630 |
| 1 Bedroom | $1,920 |
| 2 Bedrooms | $2,340 |
| 3 Bedrooms | $3,090 |
| 4 Bedrooms | $3,540 |
| 5 Bedrooms | $4,106 |
| 6 Bedrooms | $4,599 |
| 7 Bedrooms | $4,967 |
| 8 Bedrooms | $5,215 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,340 | $522,800 | 0.45% | F |
| 3BR | $3,090 | $712,053 | 0.43% | F |
| 4BR | $3,540 | $1,123,326 | 0.32% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 06777, which includes New Preston, Connecticut, is set at $2,420 for the fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers, meaning that if you participate in the program, the government will pay up to this amount on behalf of eligible tenants. It's important to note that this does not directly correlate to the market rent you can charge for your property; it is the maximum subsidy amount.
To put this into perspective, the local median rent for the area is currently not available (N/A), but the FMR gives you a benchmark to understand what the government considers a fair rent for subsidized housing. The 13.6% renter share indicates that about 13.6% of the population in this ZIP code are renters, suggesting a moderate demand for rental properties. However, this percentage alone doesn't tell the whole story of demand; you should also consider other factors such as vacancy rates and the local economy.
If you're looking to acquire a property in this area, the median home value stands at $714,843. This means that if you're planning to purchase a home to rent out through the Section 8 program, you'll likely be spending around this amount. Keep in mind that this is an average, and actual costs can vary depending on the condition, size, and location of the property.
Before you proceed with becoming a Section 8 landlord, it's crucial to verify that your property meets the minimum requirements for the program. Specifically, ensure that your rental unit passes a Housing Quality Standards (HQS) inspection. This is a mandatory step to confirm that your property is safe, decent, and sanitary for tenants. The inspection covers various aspects of the home including structural integrity, heating, plumbing, and electrical systems.
In summary, while the FMR provides insight into the potential subsidy you could receive, it's essential to assess the local rental market, understand the demand for rentals, and ensure your property meets all necessary standards. With a median home value of $714,843, the initial investment can be substantial, so make sure you have a solid understanding of the financials involved and the responsibilities of being a Section 8 landlord.
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.