Section 8 Fair Market Rent (FMR) for ZIP 06911 - 2027

FY 2027 Fair Market Rent Rates

The investment risk assessment for ZIP 06911 in Unknown, CT, reveals several critical factors that could impact the success of a Section 8 property. First, the tenant turnover rate poses a significant challenge. With no available data on the market rent, it's imperative to note the Fair Market Rent (FMR) for the area is set at $2310 for FY 2024. High turnover can lead to increased costs in terms of time and money spent on screening new tenants and preparing the property for new occupants.

Vacancy exposure is another concern. The lack of data on days on market (DOM) makes it difficult to predict how long a unit might remain vacant between tenancies. This uncertainty can affect cash flow and overall profitability. Additionally, the absence of information on typical home values and median incomes complicates assessing the financial health of potential tenants and the likelihood they will maintain the property.

Despite these risks, the high concentration of renters in the area, indicated by the N/A% renter share, suggests strong demand for rental properties, including those accepting Section 8 vouchers. This high renter density typically correlates with a higher number of individuals seeking housing assistance through the Section 8 program, potentially stabilizing occupancy rates and reducing vacancy exposure.

Verdict: Moderate risk for a first-time Section 8 landlord.

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.