Section 8 Fair Market Rent (FMR) for ZIP 06796 - 2027

Location: Northwest Hills Planning Region, CT | Metro: Northwest Hills Planning Region, CT

Investment Score for ZIP 06796

N/A

Monthly Rent (2BR)

$2,040

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,420
1 Bedroom	$1,670
2 Bedrooms	$2,040
3 Bedrooms	$2,690
4 Bedrooms	$3,080
5 Bedrooms	$3,573
6 Bedrooms	$4,002
7 Bedrooms	$4,322
8 Bedrooms	$4,538

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$2,690	$700,720	0.38%	F
4BR	$3,080	$1,040,963	0.3%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

821

Median Household Income

$106,618

Housing Units

604

Renter Percentage

11.5%

Occupancy Rate

63.2%

Renter Occupied

ZIP code 06796 is located in Westport, Connecticut, a town known for its affluent lifestyle and proximity to New York City, making it an attractive location for both residents and investors. The area boasts high-end amenities, excellent schools, and a vibrant community, all of which contribute to its strong rental and housing market.

The Fair Market Rent (FMR) for ZIP 06796 is set at $2,190 for the fiscal year 2026, indicating the government's benchmark for affordable rental units in the area.
The average market rent in this ZIP code is slightly above the FMR at $2,227, based on data from the Census Bureau's American Community Survey (ACS).
The median home value in ZIP 06796 is notably high at $692,040, reflecting the premium placed on residential properties within this affluent region.
Renters make up a relatively small portion of the population, with only 11.5% of households being renters, suggesting a preference for homeownership among residents.
The median household income in ZIP 06796 is robust at $106,618, providing a solid financial foundation for potential tenants to afford higher rents.

Investors looking to enter the market in ZIP 06796 should expect strong competition and high property values. While the renter share is low, the high median income supports a stable rental market, making it a favorable location for those who can secure rental properties. The slight difference between the FMR and market rent indicates that the area is slightly above average in terms of rental costs, aligning with its overall high cost of living. This analysis suggests that while opportunities for rental investments may be limited due to the low renter share, the strong economic indicators and high demand for housing make it a viable option for those willing to navigate a competitive landscape.

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.