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 | $1,890 |
| 1 Bedroom | $2,350 |
| 2 Bedrooms | $2,720 |
| 3 Bedrooms | $3,260 |
| 4 Bedrooms | $4,050 |
| 5 Bedrooms | $4,698 |
| 6 Bedrooms | $5,262 |
| 7 Bedrooms | $5,683 |
| 8 Bedrooms | $5,967 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,350 | $275,118 | 0.85% | C |
| 2BR | $2,720 | $457,273 | 0.59% | F |
| 3BR | $3,260 | $773,833 | 0.42% | F |
| 4BR | $4,050 | $1,166,187 | 0.35% | F |
| 5BR | $4,698 | $1,801,372 | 0.26% | F |
U.S. Census Bureau data (2024)
Stamford’s 06902 ZIP code represents the vibrant downtown core and surrounding neighborhoods of Fairfield County’s second-largest city. This area functions as a major economic hub within the Bridgeport-Stamford-Danbury metro area, characterized by high-density residential towers and extensive commercial retail. The local economy is significantly bolstered by the presence of major financial services and corporate headquarters, with Charter Communications being a prominent employer in the region. Residents benefit from an urban environment that offers direct access to the Stamford Transportation Center, providing express Metro-North rail service to Grand Central Terminal in under an hour, which makes this location particularly attractive for New York City commuters.
Financially, the market presents a notable disparity between Section 8 subsidies and current market rates. The Full FMR for a 2-bedroom unit is $2,890, while the Zillow market rent sits at $2,891, resulting in a negligible gap of $1. However, the HUD SAFMR for FY2024 is listed at $2,550, indicating potential variability in payment standards depending on the specific contract. Investors face a high cost of entry, with a median home value of $585,814 and a median 2BR sale price of $444,552. Properties are moving relatively slowly for a seller's market, with a median days on market of 49 days. Given these figures, voucher tenants offer stable payments that generally align with the 2BR FMR, though investors must carefully account for the $2,550 baseline cap which trails the open market.
The tenant pool in 06902 is substantial, driven by a renter share of 57.8% and a median household income of $94,843. While the income level suggests a population that can afford market rents, the high rental share indicates a strong preference for flexibility or barriers to homeownership. For voucher holders, the neighborhood's character is defined by its walkability and proximity to high-amenity infrastructure. The area features highly-rated public schools such as the Academy of Information Technology & Engineering, along with abundant dining and retail options. These amenities help sustain demand, ensuring that even with high prices, vacancy pressure remains low due to the desirability of the downtown location.
The Section 8 verdict for 06902 leans toward stability over aggressive cash flow. The investor angle here is securing a reliable tenant in a high-appreciation market where the $2,890 FMR covers the bulk of the $2,891 market rent, effectively neutralizing vacancy loss. The primary risk is the SAFMR cap of $2,550, which could leave a monthly shortfall of roughly $340 if the local housing authority adheres strictly to that figure rather than the higher FMR. Consequently, this area is best suited for investors prioritizing long-term asset appreciation and the demographic strength of Fairfield County over immediate, wide-margin rental income.
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.