HOUSING;

OLR Research Report


March 18, 2003

 

2003-R-0304

AVERAGE RENT FOR APARTMENTS IN CONNECTICUT

By: Sandra Norman-Eady, Chief Attorney

You asked for an update of OLR Report 2000-R-0295, which states that in 1998 the average rent in Connecticut for one- and two-bedroom apartments were $ 609 and $ 761, respectively. The report credited a Fordham Institute for Innovation in Social Policy report for the rent figures.

The Fordham Institute report has not been updated in the past two years and we were unable to locate any other source for average state rentals. We did, however, find the fair market rents (FMR) for apartments in the state. The Department of Housing and Urban Development establishes FMRs to determine the eligibility of rental housing units for the Section 8 Housing Assistance Payments program. It sets the FMRs to assure that a sufficient supply of rental housing is available to program participants.

FMRs are gross rent estimates. They include the shelter rent plus the cost of all utilities, except telephone. Table 1 shows the FMRs for Connecticut by area during for the past two years.

TABLE 1: FAIR MARKET RENTS IN CONNECTICUT

2002 AND 2003

Metropolitan Areas

One Bedroom

Two Bedrooms

2002

2003

2002

2003

Bridgeport

$ 649

$ 721

$ 782

$ 868

Danbury

806

835

1,007

1,044

Hartford

579

636

741

813

New Haven-Meriden

706

733

873

905

New London-Norwich

627

643

764

784

Stamford-Norwalk

1,135

1178

1,384

1,436

Waterbury

660

685

819

849

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