Section 8 Fair Market Rent (FMR) for ZIP 01028 - 2027

Location: Springfield, MA | Metro: Springfield, MA MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,440
1 Bedroom	$1,620
2 Bedrooms	$2,050
3 Bedrooms	$2,550
4 Bedrooms	$2,700
5 Bedrooms	$3,132
6 Bedrooms	$3,508
7 Bedrooms	$3,789
8 Bedrooms	$3,978

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

16,321

Median Household Income

$106,424

Housing Units

6,150

Renter Percentage

13.5%

Occupancy Rate

96.3%

Renter Occupied

799

Housing Authorities Serving ZIP 01028

Springfield Housing Authority (Springfield, MA) - 3,463 Section 8 vouchers
Holyoke Housing Authority (Holyoke, MA) - 1,938 Section 8 vouchers
Chicopee Housing Authority (Chicopee, MA) - 574 Section 8 vouchers
Westfield Housing Authority (Westfield, MA) - 517 Section 8 vouchers
West Springfield Housing Authority (West Springfield, MA) - 255 Section 8 vouchers

East Longmeadow, MA, represented by ZIP code 01028, is a suburban community known for its quiet neighborhoods and proximity to urban amenities. This area offers a stable environment for real estate investment, particularly in rental properties, given its demographic makeup and housing trends.

The Fair Market Rent (FMR) for a two-bedroom apartment in East Longmeadow for fiscal year 2024 is set at $1,330. This figure serves as a benchmark for rental pricing in subsidized housing programs and reflects the general affordability of the market.
The average market rent for a similar unit, according to the latest Census American Community Survey (ACS), is $1,337. This indicates that the rental market closely aligns with government standards, providing a predictable income stream for landlords.
The median home value in East Longmeadow is $419,692. This places the area within a moderate range for homeownership, balancing property acquisition costs with potential resale values.
Renters make up 13.5% of the housing market in East Longmeadow. Despite being a smaller share, this still represents a significant number of potential tenants, especially in a region where home prices can be prohibitive for some buyers.
The median household income in the area is $106,424. This relatively high income level suggests that residents have the financial capacity to support higher rents or mortgage payments, which could benefit both landlords and homeowners.
Data on Days on Market (DOM) for rentals is currently N/A. This could imply a robust demand for rental units, as listings tend to move quickly without detailed tracking.

In summary, East Longmeadow presents a favorable market for landlords and small-portfolio investors due to its stable rental prices, high median income levels, and a consistent demand for rental units. The area's median home value also supports a balanced real estate market, making it attractive for various types of investments. However, the lack of data on rental listing durations should be considered when evaluating the speed of tenant acquisition. Overall, the combination of these factors points towards a reliable and potentially profitable investment climate.

Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.