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 | $2,000 |
| 1 Bedroom | $2,480 |
| 2 Bedrooms | $2,870 |
| 3 Bedrooms | $3,440 |
| 4 Bedrooms | $4,270 |
| 5 Bedrooms | $4,953 |
| 6 Bedrooms | $5,547 |
| 7 Bedrooms | $5,991 |
| 8 Bedrooms | $6,291 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,480 | $637,058 | 0.39% | F |
| 2BR | $2,870 | $1,075,159 | 0.27% | F |
| 3BR | $3,440 | $1,404,125 | 0.24% | F |
| 4BR | $4,270 | $2,027,727 | 0.21% | F |
| 5BR | $4,953 | $3,234,027 | 0.15% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 06880, Westport, Connecticut, stands at $250,001, placing it among the higher-income brackets. However, the market rate for rent, known as the Zillow Observed Rent Index (ZORI), is $7,768 per month. This figure suggests a significant financial burden for many households, especially considering that the Fair Market Rent (FMR) as determined by the U.S. Department of Housing and Urban Development for zip code 06880 in fiscal year 2024 is set at $2,710.
To put this into perspective, a household earning the median income would spend nearly 39% of their monthly income on rent at the market rate, which is well above the generally accepted guideline of no more than 30% of income going towards housing costs. This disparity highlights a substantial affordability gap for renters in Westport.
The rental market in Westport is relatively small, with only 11.2% of the 27,583 population being renters. This low percentage of renters means that there is limited competition among potential tenants for available rental units. Consequently, landlords may find it challenging to fill vacancies if they set rents at the market rate, particularly when compared to the lower rates supported by housing vouchers.
The takeaway for landlords is clear: accepting housing vouchers can be a strategic move to ensure consistent occupancy. While the voucher payment standard is significantly lower at $2,710, it aligns better with the financial capabilities of the local rental market. Landlords who consider both voucher and cash-pay strategies will have a more robust approach to managing their properties in an area where the market rate far exceeds the median income.
In summary, the affordability gap in Westport, CT, makes it imperative for landlords to evaluate the benefits of accepting housing vouchers alongside traditional cash-paying tenants. This balanced strategy can help maintain steady occupancy rates and adapt to the local economic realities.
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.