Location: Bridgeport-Stamford-Danbury, CT | Metro: Bridgeport-Stamford-Danbury, CT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,760 |
| 1 Bedroom | $2,180 |
| 2 Bedrooms | $2,530 |
| 3 Bedrooms | $3,030 |
| 4 Bedrooms | $3,770 |
| 5 Bedrooms | $4,373 |
| 6 Bedrooms | $4,898 |
| 7 Bedrooms | $5,290 |
| 8 Bedrooms | $5,555 |
To profile ZIP code 06836 in Connecticut as a Section 8 tenant pool, we must rely on the available data, which unfortunately does not provide specific figures for population, percentage of renters, or median household income. However, we can still make informed observations based on the information at hand.
The absence of detailed demographic data makes it challenging to definitively state whether this ZIP is renter-heavy or dominated by homeowners. Nevertheless, understanding the dynamics of Section 8 voucher usage requires looking at the financial landscape. With the median household income unspecified, it's equally difficult to calculate the exact percentage of income that goes towards rent. However, we can use the Fair Market Rent (FMR) figure to infer some aspects of the rental market.
The FMR for ZIP 06836 is set at $2310 for fiscal year 2024. This figure represents the maximum amount that a Section 8 voucher will cover for rent in this area. If the market rent in ZIP 06836 aligns closely with this FMR, then tenants using vouchers would be able to afford typical housing without significant issues. If the market rent exceeds this amount, landlords might need to consider offering lower rents to attract Section 8 tenants or face the challenge of finding suitable housing within the voucher limits.
In terms of tenant profiles, landlords in ZIP 06836 can expect a mix of families and individuals who qualify for the Section 8 program. These tenants typically have low to moderate incomes and rely on government assistance to secure housing. They are likely to be conscientious about their financial obligations and may prioritize stable housing over other expenses.
Given the limited data, it's crucial for landlords and small-portfolio investors to conduct thorough research on local rental trends and consult with local housing authorities to understand the specific dynamics of the Section 8 program in ZIP 06836. This will help in setting realistic expectations and making informed decisions regarding property management and tenant selection.
Data Sources: FMR data from HUD (2027).
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.