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CT/New Haven County/06516

06516

ZIPSAFMR
New Haven County, CT
Zillow

ZIP Investment Score

83Below average

095130300
BRFMR
Eff. Rent
0 BR$1,530$1,530
1 BR$1,660$1,660
2 BR$1,990$1,990
3 BR$2,480$2,480
4 BR$2,790$2,790
5 BR$3,208Not available
6 BR$3,690Not available
7 BR$4,243Not available
8 BR$4,880Not available

Purchase Price Calculator

Maximum purchase price
$233,797

Cost breakdown

+Likely effective rent$1,990
HUD FMRUsed$1,990
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,182
Loan amount$187,037
Down payment$46,759
Rate6.50%
Term30 years
-Operating costs-$608
Property taxes-$234
Insurance-$175
Utilities$0
HOA$0
Management-$199
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,878(68.2% ROI)
Projected value
$251,773
Return breakdown
Property appreciation+$17,977
Loan principal paid down+$6,701
Rental cash flow+$7,200
5-year hold
+$54,673(116.9% ROI)
Projected value
$264,519
Return breakdown
Property appreciation+$30,723
Loan principal paid down+$11,950
Rental cash flow+$12,000
10-year hold
+$117,957(252.3% ROI)
Projected value
$299,280
Return breakdown
Property appreciation+$65,483
Loan principal paid down+$28,474
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 06516 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 06516 (New Haven County, CT) is $1,990 a month. That is up 3.1% from $1,930 in FY 2026. Among 39 ZIP codes in New Haven County, 06516 has the 21st-highest two-bedroom rent (county range $1,610–$2,910). The median county two-bedroom FMR in Connecticut is $1,933, so ZIP 06516 is 3% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 06516
BedroomsFY 2027Change90–110% range
Studio$1,530+14.2%$1,377–$1,683
1BR$1,660+6.4%$1,494–$1,826
2BR$1,990+3.1%$1,791–$2,189
3BR$2,480+4.2%$2,232–$2,728
4BR$2,790−1.1%$2,511–$3,069

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 06516
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,530$1,660$1,990$2,480$2,790
FY 2026$1,340$1,560$1,930$2,380$2,820
FY 2025$1,350$1,460$1,780$2,210$2,700
FY 2024$1,220$1,340$1,640$2,020$2,520
FY 2023$1,220$1,350$1,650$2,030$2,290

Two-bedroom rent in nearby New Haven County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 06516
06492$1,810−9.0%
06511$2,120+6.5%
06512$2,010+1.0%
06513$1,900−4.5%
06514$2,270+14.1%
06515$2,160+8.5%
06516Current$1,990—
06517$1,890−5.0%
06518$2,820+41.7%
06519$1,940−2.5%
06524$2,170+9.0%
06525$2,470+24.1%

Questions about ZIP 06516 rents

How much will Section 8 pay for a two-bedroom in ZIP 06516?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,990, that basic range is $1,791 to $2,189 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 06516 for FY 2027?

The two-bedroom FMR rose 3.1%, from $1,930 in FY 2026 to $1,990 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