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 | $1,540 |
| 1 Bedroom | $1,810 |
| 2 Bedrooms | $2,210 |
| 3 Bedrooms | $2,920 |
| 4 Bedrooms | $3,340 |
| 5 Bedrooms | $3,874 |
| 6 Bedrooms | $4,339 |
| 7 Bedrooms | $4,686 |
| 8 Bedrooms | $4,920 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,920 | $1,020,193 | 0.29% | F |
| 4BR | $3,340 | $1,433,278 | 0.23% | F |
| 5BR | $3,874 | $2,414,535 | 0.16% | F |
U.S. Census Bureau data (2024)
18.6% of the residents in ZIP code 06793 are renters, indicating a notable demand for rental properties in the area. The Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $2,330, which is significantly higher than the actual market rent reported by the Census ACS at $1,199. This discrepancy suggests that landlords could potentially increase their rental rates closer to the FMR without losing tenants, given the high median home value of $1,158,519, which implies a wealthier demographic. However, the median income of $121,250 should be considered when setting rental prices to ensure affordability for potential tenants. Despite the lack of specific data on days on market (DOM) and the percentage of price cuts, the strong disparity between FMR and market rent indicates a favorable environment for landlords participating in the Section 8 program. The $2,330 FMR provides a benchmark for rental pricing that aligns well with the financial capabilities of the local population, making it a valuable tool for setting competitive rates. For small-portfolio investors, the opportunity to leverage the higher FMR while serving a financially stable tenant base can be highly profitable. Given these figures, landlords in ZIP 06793 should consider adjusting their rental strategies to align with the FMR to maximize returns while maintaining occupancy rates.
The verdict on Section 8 participation in ZIP 06793 is positive, as the higher FMR compared to the market rent offers a lucrative opportunity for landlords and investors to secure steady rental income through the government subsidy program.
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.