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CT/Fairfield County/06902

06902

ZIPSAFMR
Fairfield County, CT
Zillow

ZIP Investment Score

58Below average

095130300
BRFMR
Eff. Rent
0 BR$1,890$1,890
1 BR$2,350$2,350
2 BR$2,720$2,720
3 BR$3,260$3,260
4 BR$4,050$4,050
5 BR$4,658Not available
6 BR$5,356Not available
7 BR$6,160Not available
8 BR$7,083Not available

Purchase Price Calculator

Maximum purchase price
$342,274

Cost breakdown

+Likely effective rent$2,720
HUD FMRUsed$2,720
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,731
Loan amount$273,820
Down payment$68,455
Rate6.50%
Term30 years
-Operating costs-$789
Property taxes-$342
Insurance-$175
Utilities$0
HOA$0
Management-$272
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$43,328(63.3% ROI)
Projected value
$368,592
Return breakdown
Property appreciation+$26,318
Loan principal paid down+$9,810
Rental cash flow+$7,200
5-year hold
+$74,472(108.8% ROI)
Projected value
$387,252
Return breakdown
Property appreciation+$44,978
Loan principal paid down+$17,494
Rental cash flow+$12,000
10-year hold
+$161,552(236.0% ROI)
Projected value
$438,140
Return breakdown
Property appreciation+$95,866
Loan principal paid down+$41,686
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 06902 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 06902 (Fairfield County, CT) is $2,720 a month. That is down 5.9% from $2,890 in FY 2026. Among 46 ZIP codes in Fairfield County, 06902 has the 18th-highest two-bedroom rent (county range $2,260–$3,600). The median county two-bedroom FMR in Connecticut is $1,933, so ZIP 06902 is 41% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 06902
BedroomsFY 2027Change90–110% range
Studio$1,890−5.0%$1,701–$2,079
1BR$2,350−2.9%$2,115–$2,585
2BR$2,720−5.9%$2,448–$2,992
3BR$3,260−6.6%$2,934–$3,586
4BR$4,050−2.2%$3,645–$4,455

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 06902
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,890$2,350$2,720$3,260$4,050
FY 2026$1,990$2,420$2,890$3,490$4,140
FY 2025$1,730$2,110$2,530$3,080$3,430
FY 2024$1,730$2,110$2,550$3,110$3,400
FY 2023$1,710$2,090$2,520$3,110$3,390

Two-bedroom rent in nearby Fairfield County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 06902
06878$3,150+15.8%
06880$2,870+5.5%
06883$2,910+7.0%
06890$3,600+32.4%
06896$2,840+4.4%
06897$2,350−13.6%
06901$2,880+5.9%
06902Current$2,720—
06903$3,130+15.1%
06905$2,780+2.2%
06906$2,700−0.7%
06907$2,550−6.2%

Questions about ZIP 06902 rents

How much will Section 8 pay for a two-bedroom in ZIP 06902?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,720, that basic range is $2,448 to $2,992 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 06902 for FY 2027?

The two-bedroom FMR fell 5.9%, from $2,890 in FY 2026 to $2,720 in FY 2027. Since FY 2023 it has risen 7.9%.

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