Location: Bridgeport-Stamford-Danbury, CT | Metro: Bridgeport-Stamford-Danbury, 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 | $1,750 |
| 1 Bedroom | $2,180 |
| 2 Bedrooms | $2,520 |
| 3 Bedrooms | $3,020 |
| 4 Bedrooms | $3,750 |
| 5 Bedrooms | $4,350 |
| 6 Bedrooms | $4,872 |
| 7 Bedrooms | $5,262 |
| 8 Bedrooms | $5,525 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,180 | $330,140 | 0.66% | D |
| 2BR | $2,520 | $527,826 | 0.48% | F |
| 3BR | $3,020 | $719,281 | 0.42% | F |
| 4BR | $3,750 | $866,021 | 0.43% | F |
| 5BR | $4,350 | $994,102 | 0.44% | F |
U.S. Census Bureau data (2024)
2440 is the Fair Market Rent (FMR) for ZIP 06851 in Norwalk, Connecticut, for fiscal year 2024, indicating the maximum amount Section 8 participants can pay for rent. However, the market rent, known as ZORI, stands at 2669, suggesting that landlords might need to adjust their expectations slightly when participating in the program. The median home value in the area is 661580, reflecting a robust housing market where properties generally command high prices. With a renter share of 38.4%, it's clear that nearly four out of ten residents prefer renting over owning, making rental properties a viable investment option. The median income in ZIP 06851 is 111341, which provides insight into the economic stability of potential tenants. A low Days on Market (DOM) figure of 9 indicates that properties in Norwalk are typically occupied quickly once they become available, a positive sign for investors looking to minimize vacancy periods. Additionally, the price-cut share is only 0.1%, meaning that very few landlords have had to reduce their rents to attract tenants, further supporting the idea of a strong rental market.
Based on these figures, landlords and small-portfolio investors should find the Section 8 program in ZIP 06851 to be a reliable source of stable tenants, despite needing to adhere to the 2440 FMR cap. The market conditions suggest that there is a good demand for rental properties, and the economic indicators point to a solid tenant pool. Therefore, the verdict on Section 8 participation in Norwalk, Connecticut, is that it offers a secure and potentially profitable opportunity for landlords willing to comply with the program's requirements.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.