Windham County/Bellows Falls/05101

05101

ZIPSAFMR

Windham County, VT

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ZIP Investment Score

56Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,170	$1,290	6.2%
1 BR	$1,280	$1,400	5.5%
2 BR	$1,570	$1,470	5.4%
3 BR	$1,870	$1,530	4.2%
4 BR	$2,370	$2,100	9.9%
5 BR	$2,726	Not available	9.9%
6 BR	$3,134	Not available	9.9%
7 BR	$3,604	Not available	9.9%
8 BR	$4,145	Not available	9.9%

Purchase Price Calculator

Maximum purchase price

$156,525

Cost breakdown

+Likely effective rent$1,470

HUD FMR$1,570

Market rentUsed$1,470

Est. payment standard (96%)$1,510

-Principal and interest-$791

Loan amount$125,220

Down payment$31,305

Rate6.50%

Term30 years

-Operating costs-$479

Property taxes-$157

Insurance-$175

Utilities$0

HOA$0

Management-$147

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$23,722(75.8% ROI)

Projected value

$168,560

Return breakdown

Property appreciation+$12,035

Loan principal paid down+$4,486

Rental cash flow+$7,200

5-year hold

+$40,569(129.6% ROI)

Projected value

$177,094

Return breakdown

Property appreciation+$20,569

Loan principal paid down+$8,000

Rental cash flow+$12,000

10-year hold

+$86,904(277.6% ROI)

Projected value

$200,365

Return breakdown

Property appreciation+$43,840

Loan principal paid down+$19,063

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.83ratio

FMR$1,170

Market$1,410

vs market-$240

FMR is below market; voucher rent may lag private rents.

0.83

1 BR

0.88ratio

FMR$1,280

Market$1,460

vs market-$180

FMR is below market; voucher rent may lag private rents.

0.88

2 BR

1.07ratio

FMR$1,570

Market$1,470

vs market+$100

FMR is near market; voucher and private rents are aligned.

1.07

3 BR

1.22ratio

FMR$1,870

Market$1,530

vs market+$340

FMR is above market; underwrite to market rent.

1.22

4 BR

1.13ratio

FMR$2,370

Market$2,100

vs market+$270

FMR is above market; underwrite to market rent.

1.13

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 05101 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 05101 (Bellows Falls, VT) is $1,570 a month. That is up 11.3% from $1,410 in FY 2026. Bellows Falls is in the Windham County, VT non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,605. Among 29 ZIP codes in Windham County, 05101 has the 19th-highest two-bedroom rent (county range $1,290–$2,180).

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 05101
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,070	$1,170	+9.3%	$1,053–$1,287
1BR	$1,150	$1,280	+11.3%	$1,152–$1,408
2BR	$1,410	$1,570	+11.3%	$1,413–$1,727
3BR	$1,690	$1,870	+10.7%	$1,683–$2,057
4BR	$1,870	$2,370	+26.7%	$2,133–$2,607

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 05101
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,170	$1,280	$1,570	$1,870	$2,370
FY 2026	$1,070	$1,150	$1,410	$1,690	$1,870
FY 2025	$1,000	$1,090	$1,330	$1,660	$1,760
FY 2024area FMR	$976	$1,091	$1,340	$1,655	$1,785
FY 2023area FMR	$803	$945	$1,150	$1,426	$1,545

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Windham County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 05101
05101Current	$1,570	—
05141	$1,530	−2.5%
05143	$1,400	−10.8%
05146	$1,690	+7.6%
05148	$1,590	+1.3%
05154	$1,630	+3.8%
05155	$1,690	+7.6%
05156	$1,400	−10.8%
05158	$1,290	−17.8%
05301	$1,650	+5.1%
05341	$1,650	+5.1%
05342	$1,630	+3.8%

Questions about ZIP 05101 rents

How much will Section 8 pay for a two-bedroom in ZIP 05101?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,605, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,445 to $1,766 a month; under the ZIP-level Small Area FMR of $1,570 it would be $1,413 to $1,727. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 05101 in?

ZIP 05101 is in the Windham County, VT non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,605.

How much did fair market rent change in ZIP 05101 for FY 2027?

The two-bedroom FMR rose 11.3%, from $1,410 in FY 2026 to $1,570 in FY 2027. Since FY 2025 it has risen 18.0%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rent Bellows Falls, VT fair market rent VT statewide rents What is SAFMR?Data sources