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CT/Litchfield County/06031

06031

ZIPSAFMR
Litchfield County, CT
Zillow

ZIP Investment Score

85Below average

095130300
BRFMR
Eff. Rent
0 BR$1,570$1,570
1 BR$1,850$1,850
2 BR$2,250$2,250
3 BR$2,970$2,970
4 BR$3,400$3,400
5 BR$3,910Not available
6 BR$4,496Not available
7 BR$5,171Not available
8 BR$5,947Not available

Purchase Price Calculator

Maximum purchase price
$272,433

Cost breakdown

+Likely effective rent$2,250
HUD FMRUsed$2,250
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,378
Loan amount$217,946
Down payment$54,487
Rate6.50%
Term30 years
-Operating costs-$672
Property taxes-$272
Insurance-$175
Utilities$0
HOA$0
Management-$225
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$35,956(66.0% ROI)
Projected value
$293,380
Return breakdown
Property appreciation+$20,948
Loan principal paid down+$7,808
Rental cash flow+$7,200
5-year hold
+$61,725(113.3% ROI)
Projected value
$308,232
Return breakdown
Property appreciation+$35,800
Loan principal paid down+$13,925
Rental cash flow+$12,000
10-year hold
+$133,484(245.0% ROI)
Projected value
$348,737
Return breakdown
Property appreciation+$76,304
Loan principal paid down+$33,180
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 06031 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 06031 (Litchfield County, CT) is $2,250 a month. That is up 6.1% from $2,120 in FY 2026. Among 36 ZIP codes in Litchfield County, 06031 has the 8th-highest two-bedroom rent (county range $1,460–$3,400). The median county two-bedroom FMR in Connecticut is $1,933, so ZIP 06031 is 16% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 06031
BedroomsFY 2027Change90–110% range
Studio$1,570+7.5%$1,413–$1,727
1BR$1,850+6.9%$1,665–$2,035
2BR$2,250+6.1%$2,025–$2,475
3BR$2,970+8.8%$2,673–$3,267
4BR$3,400+10.4%$3,060–$3,740

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 06031
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,570$1,850$2,250$2,970$3,400
FY 2026$1,460$1,730$2,120$2,730$3,080
FY 2025$1,250$1,480$1,830$2,290$2,610
FY 2024area FMR$1,006$1,160$1,484$1,819$2,024
FY 2023area FMR$925$1,067$1,384$1,684$1,859

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

Two-bedroom rent in nearby Litchfield County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 06031
06018$1,600−28.9%
06021$1,780−20.9%
06024$1,800−20.0%
06031Current$2,250—
06039$1,550−31.1%
06057$1,620−28.0%
06058$1,500−33.3%
06063$1,590−29.3%
06068$1,900−15.6%
06069$2,180−3.1%
06098$1,510−32.9%
06750$1,460−35.1%

Questions about ZIP 06031 rents

How much will Section 8 pay for a two-bedroom in ZIP 06031?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,250, that basic range is $2,025 to $2,475 a month. 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.

How much did fair market rent change in ZIP 06031 for FY 2027?

The two-bedroom FMR rose 6.1%, from $2,120 in FY 2026 to $2,250 in FY 2027. Since FY 2025 it has risen 23.0%.

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. 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 rentCT statewide rentsWhat is SAFMR?Data sources