Location: Northwest Hills Planning Region, CT | Metro: Waterbury-Shelton, 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 | $1,400 |
| 1 Bedroom | $1,650 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,660 |
| 4 Bedrooms | $3,040 |
| 5 Bedrooms | $3,526 |
| 6 Bedrooms | $3,949 |
| 7 Bedrooms | $4,265 |
| 8 Bedrooms | $4,478 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,010 | $362,451 | 0.55% | F |
| 3BR | $2,660 | $430,173 | 0.62% | D |
| 4BR | $3,040 | $572,784 | 0.53% | F |
| 5BR | $3,526 | $673,774 | 0.52% | F |
U.S. Census Bureau data (2024)
The investment landscape in ZIP 06791, Harwinton, CT, presents several challenges for landlords considering participation in the Section 8 program. Tenant turnover is a significant concern, with market rents averaging $1,504 compared to the Federal Market Rent (FMR) of $1,650 for FY 2024. This discrepancy can lead to difficulties in attracting and retaining tenants who qualify for vouchers but struggle to meet the higher FMR rates.
Vacancy exposure remains another critical issue, particularly due to the lack of available data on days on market (DOM). Without this information, it's challenging to predict how long units might remain vacant, potentially leading to financial strain during periods of non-occupancy. Additionally, the typical home value of $431,655 contrasts sharply with the median income of $129,762, suggesting that many residents may be financially stretched even without the burden of higher rental costs. This economic disparity increases the risk of deferred maintenance, as tenants may prioritize immediate expenses over timely repairs and upkeep.
However, these risks are tempered by the substantial 7.0% renter share of the population. High renter density generally correlates with increased demand for rental properties, including those accepting Section 8 vouchers. This robust demand can mitigate some of the risks associated with tenant turnover and vacancy exposure, as there is likely to be a consistent pool of potential tenants seeking affordable housing options.
In conclusion, the overall risk for a first-time Section 8 landlord in ZIP 06791 is moderate. While there are notable challenges, the strong demand for rentals provides a stabilizing factor in an otherwise volatile market.
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.