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CT/Fairfield County/06897

06897

ZIPSAFMR
Fairfield County, CT
Zillow

ZIP Investment Score

36Below average

095130300
BRFMR
Eff. Rent
0 BR$1,610$1,610
1 BR$1,980$1,980
2 BR$2,350$2,350
3 BR$2,860$2,860
4 BR$3,410$3,410
5 BR$3,921Not available
6 BR$4,510Not available
7 BR$5,186Not available
8 BR$5,964Not available

Purchase Price Calculator

Maximum purchase price
$287,293

Cost breakdown

+Likely effective rent$2,350
HUD FMRUsed$2,350
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,453
Loan amount$229,834
Down payment$57,459
Rate6.50%
Term30 years
-Operating costs-$697
Property taxes-$287
Insurance-$175
Utilities$0
HOA$0
Management-$235
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$37,525(65.3% ROI)
Projected value
$309,383
Return breakdown
Property appreciation+$22,090
Loan principal paid down+$8,234
Rental cash flow+$7,200
5-year hold
+$64,437(112.1% ROI)
Projected value
$325,045
Return breakdown
Property appreciation+$37,753
Loan principal paid down+$14,684
Rental cash flow+$12,000
10-year hold
+$139,456(242.7% ROI)
Projected value
$367,759
Return breakdown
Property appreciation+$80,466
Loan principal paid down+$34,990
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 06897 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 06897 (Fairfield County, CT) is $2,350 a month. That is down 10.0% from $2,610 in FY 2026. Among 46 ZIP codes in Fairfield County, 06897 has the 34th-highest two-bedroom rent (county range $2,260–$3,600). The median county two-bedroom FMR in Connecticut is $1,933, so ZIP 06897 is 22% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 06897
BedroomsFY 2027Change90–110% range
Studio$1,610−9.6%$1,449–$1,771
1BR$1,980−8.3%$1,782–$2,178
2BR$2,350−10.0%$2,115–$2,585
3BR$2,860−9.8%$2,574–$3,146
4BR$3,410−6.6%$3,069–$3,751

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 06897
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,610$1,980$2,350$2,860$3,410
FY 2026$1,780$2,160$2,610$3,170$3,650
FY 2025$1,970$2,390$2,890$3,520$3,860
FY 2024$2,180$2,650$3,210$3,910$4,280
FY 2023$2,360$2,900$3,490$4,300$4,690

Two-bedroom rent in nearby Fairfield County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 06897
06878$3,150+34.0%
06880$2,870+22.1%
06883$2,910+23.8%
06890$3,600+53.2%
06896$2,840+20.9%
06897Current$2,350—
06901$2,880+22.6%
06902$2,720+15.7%
06903$3,130+33.2%
06905$2,780+18.3%
06906$2,700+14.9%
06907$2,550+8.5%

Questions about ZIP 06897 rents

How much will Section 8 pay for a two-bedroom in ZIP 06897?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,350, that basic range is $2,115 to $2,585 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 06897 for FY 2027?

The two-bedroom FMR fell 10.0%, from $2,610 in FY 2026 to $2,350 in FY 2027. Since FY 2023 it has fallen 32.7%.

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