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CT/Middlesex County/06438

06438

ZIPSAFMR
Middlesex County, CT
Zillow

ZIP Investment Score

83Below average

095130300
BRFMR
Eff. Rent
0 BR$1,640$1,640
1 BR$1,880$1,880
2 BR$2,360$2,360
3 BR$2,810$2,810
4 BR$3,100$3,100
5 BR$3,565Not available
6 BR$4,100Not available
7 BR$4,715Not available
8 BR$5,422Not available

Purchase Price Calculator

Maximum purchase price
$288,779

Cost breakdown

+Likely effective rent$2,360
HUD FMRUsed$2,360
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,460
Loan amount$231,023
Down payment$57,756
Rate6.50%
Term30 years
-Operating costs-$700
Property taxes-$289
Insurance-$175
Utilities$0
HOA$0
Management-$236
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$37,681(65.2% ROI)
Projected value
$310,983
Return breakdown
Property appreciation+$22,204
Loan principal paid down+$8,277
Rental cash flow+$7,200
5-year hold
+$64,708(112.0% ROI)
Projected value
$326,726
Return breakdown
Property appreciation+$37,948
Loan principal paid down+$14,760
Rental cash flow+$12,000
10-year hold
+$140,053(242.5% ROI)
Projected value
$369,661
Return breakdown
Property appreciation+$80,882
Loan principal paid down+$35,171
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 06438 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 06438 (Middlesex County, CT) is $2,360 a month. That is up 0.4% from $2,350 in FY 2026. Among 20 ZIP codes in Middlesex County, 06438 has the 2nd-highest two-bedroom rent (county range $1,590–$2,570). The median county two-bedroom FMR in Connecticut is $1,933, so ZIP 06438 is 22% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 06438
BedroomsFY 2027Change90–110% range
Studio$1,640+1.2%$1,476–$1,804
1BR$1,880+1.1%$1,692–$2,068
2BR$2,360+0.4%$2,124–$2,596
3BR$2,810−0.4%$2,529–$3,091
4BR$3,100−3.1%$2,790–$3,410

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 06438
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,640$1,880$2,360$2,810$3,100
FY 2026$1,620$1,860$2,350$2,820$3,200
FY 2025$1,070$1,250$1,560$1,880$2,280
FY 2024$1,170$1,380$1,720$2,080$2,530
FY 2023$810$970$1,210$1,470$1,800

Two-bedroom rent in nearby Middlesex County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 06438
06416$2,050−13.1%
06417$1,910−19.1%
06419$2,350−0.4%
06422$2,140−9.3%
06423$2,200−6.8%
06424$1,900−19.5%
06426$2,240−5.1%
06438Current$2,360—
06441$1,880−20.3%
06442$2,000−15.3%
06455$1,800−23.7%
06457$1,980−16.1%

Questions about ZIP 06438 rents

How much will Section 8 pay for a two-bedroom in ZIP 06438?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,360, that basic range is $2,124 to $2,596 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 06438 for FY 2027?

The two-bedroom FMR rose 0.4%, from $2,350 in FY 2026 to $2,360 in FY 2027. Since FY 2023 it has risen 95.0%.

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