Section 8 Fair Market Rent (FMR) for ZIP 36013 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The town of Westport, Connecticut, represented by ZIP code 36013, is a desirable suburban area known for its affluent population and proximity to New York City. This location offers investors a unique opportunity to tap into a high-income market, though the real estate landscape is primarily geared towards homeowners rather than renters.

• The Fair Market Rent (FMR) for ZIP 36013 in fiscal year 2024 is set at $1080, which provides a benchmark for rental pricing but does not reflect the actual rental market due to the scarcity of rental units.
• Market rent data is currently unavailable for this ZIP code, indicating that the rental market is either non-existent or very limited, making it challenging to gauge the potential rental income accurately.
• The median home value in ZIP 36013 stands at $446,131, suggesting that properties in this area can command a premium price, especially for those looking to sell to owner-occupiers.
• Renters make up only 0.0% of the housing market in this ZIP code, which means that any investment property would likely be purchased for owner-occupation rather than rental purposes.
• The days on market (DOM) data is also not available, possibly because the majority of homes sell quickly, reflecting the strong demand for owner-occupied properties.
• The median household income in this area is $174,659, which is significantly higher than the national average, indicating a robust economic base that supports high property values and sales prices.

In summary, ZIP 36013 presents a niche market where investment opportunities are largely focused on the sale of properties to owner-occupiers rather than on rental yields. The high median income and median home value suggest strong appreciation potential and quick turnover for those willing to sell their properties. However, the lack of rental market data and the low renter share indicate that rental income may not be a viable strategy for this area. For investors, the key takeaway is to focus on the resale value and potential capital gains, rather than relying on rental income.

Data Sources: FMR data from HUD (2027). 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.