FY2027 Small Area FMR · Waterford, CT

ZIP 06385 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 06385 (Waterford, CT) is $2,250 a month, up 3.7% from FY2026. That is 18% above the Norwich-New London-Willimantic, CT area-wide FMR of $1,902.

2-bedroom SAFMR$2,250per month ▲ 3.7%

Area-wide 2 BR FMR$1,902Norwich-New London-Willimant

Rank in the area6thof 40 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,025

2 BR Small Area FMR$2,250

110% of SAFMR$2,475

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,570▲ 4.7%

1 BR$1,800▲ 3.4%

2 BR$2,250▲ 3.7%

3 BR$2,860▲ 2.1%

4 BR$3,540▲ 1.7%

FY2027 FY2026

Where 06385 sits in the Norwich-New London-Willimantic, CT area

Of the 40 ZIP codes HUD lists for the area, 06385 has the 6th highest two-bedroom Small Area FMR. Norwich-New London-Willimantic, CT is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,902 for two bedrooms; an agency that opts in to Small Area FMRs would use $2,250 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,570	$1,413 – $1,727	$1,324	$1,500
1 bedroom	$1,800	$1,620 – $1,980	$1,518	$1,740
2 bedrooms	$2,250	$2,025 – $2,475	$1,902	$2,170
3 bedrooms	$2,860	$2,574 – $3,146	$2,418	$2,800
4 bedrooms	$3,540	$3,186 – $3,894	$2,995	$3,480

A household renting a two-bedroom home at the Small Area FMR of $2,250 needs about $90,000 a year to keep housing costs at 30% of income. The area median family income is $111,900 and the 80% low-income limit for four people is $99,600. ZIP code 06385 lies mainly in Southeastern Connecticut Planning Region. See the Norwich-New London-Willimantic, CT county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
06320	New London	3.0 mi	$1,910
06375	Quaker Hill	3.5 mi	$1,680
06357	Niantic	3.9 mi	$2,070
06333	East Lyme	4.1 mi	$2,280
06340	Groton	6.0 mi	$2,090
06376	South Lyme	6.9 mi	$2,730

Questions

What is the Fair Market Rent for ZIP code 06385?

HUD's FY2027 Small Area Fair Market Rents for 06385 are $1,570 (studio), $1,800 (1 BR), $2,250 (2 BR), $2,860 (3 BR) and $3,540 (4 BR) a month.

What is the Section 8 payment standard in 06385?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 06385 that range is $2,025 to $2,475 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 06385?

The FY2026 income limits of the Norwich-New London-Willimantic, CT area apply: median family income $111,900, low-income (80%) limit $99,600 for a family of four.