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CT/New London County/06415

06415

ZIPSAFMR
New London County, CT
Zillow

ZIP Investment Score

81Below average

095130300
BRFMR
Eff. Rent
0 BR$1,340$1,340
1 BR$1,540$1,540
2 BR$1,930$1,930
3 BR$2,450$2,450
4 BR$3,040$3,040
5 BR$3,496Not available
6 BR$4,020Not available
7 BR$4,623Not available
8 BR$5,317Not available

Purchase Price Calculator

Maximum purchase price
$224,881

Cost breakdown

+Likely effective rent$1,930
HUD FMRUsed$1,930
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,137
Loan amount$179,905
Down payment$44,976
Rate6.50%
Term30 years
-Operating costs-$593
Property taxes-$225
Insurance-$175
Utilities$0
HOA$0
Management-$193
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,937(68.8% ROI)
Projected value
$242,172
Return breakdown
Property appreciation+$17,291
Loan principal paid down+$6,446
Rental cash flow+$7,200
5-year hold
+$53,045(117.9% ROI)
Projected value
$254,432
Return breakdown
Property appreciation+$29,551
Loan principal paid down+$11,494
Rental cash flow+$12,000
10-year hold
+$114,374(254.3% ROI)
Projected value
$287,866
Return breakdown
Property appreciation+$62,986
Loan principal paid down+$27,388
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 06415 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 06415 (New London County, CT) is $1,930 a month. That is up 2.7% from $1,880 in FY 2026. Among 26 ZIP codes in New London County, 06415 has the 12th-highest two-bedroom rent (county range $1,680–$2,730).

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 06415
BedroomsFY 2027Change90–110% range
Studio$1,340+3.1%$1,206–$1,474
1BR$1,540+2.0%$1,386–$1,694
2BR$1,930+2.7%$1,737–$2,123
3BR$2,450+1.2%$2,205–$2,695
4BR$3,040+1.0%$2,736–$3,344

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 06415
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,340$1,540$1,930$2,450$3,040
FY 2026$1,300$1,510$1,880$2,420$3,010
FY 2025$1,250$1,390$1,820$2,400$3,010
FY 2024$1,170$1,320$1,730$2,280$2,910
FY 2023$1,070$1,220$1,600$2,180$2,720

Two-bedroom rent in nearby New London County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 06415
06365$2,100+8.8%
06370$1,680−13.0%
06371$2,730+41.5%
06375$1,680−13.0%
06378$2,250+16.6%
06379$1,780−7.8%
06380$1,680−13.0%
06382$1,720−10.9%
06384$1,680−13.0%
06385$2,250+16.6%
06415Current$1,930—
06420$1,970+2.1%

Questions about ZIP 06415 rents

How much will Section 8 pay for a two-bedroom in ZIP 06415?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,930, that basic range is $1,737 to $2,123 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 06415 for FY 2027?

The two-bedroom FMR rose 2.7%, from $1,880 in FY 2026 to $1,930 in FY 2027. Since FY 2023 it has risen 20.6%.

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