Section 8 Fair Market Rent (FMR) for ZIP 01061 - 2027

FY 2027 Fair Market Rent Rates

1530 is the Fair Market Rent (FMR) for ZIP code 01061 in fiscal year 2024, setting the benchmark for rental properties participating in the Section 8 program. This figure represents the maximum amount that landlords can charge for a unit to be eligible under the program, ensuring that rents remain affordable for low-income households. The N/A for the market rent indicates that there is insufficient data to provide an accurate comparison between the FMR and the actual market rates, which could suggest either a lack of available rental listings or a recent change in the local housing market dynamics. Similarly, the N/A median home value points to a gap in assessing the overall property values in the area, making it challenging to gauge the broader real estate health of ZIP 01061. The N/A percentage for renter share and median income further complicates the picture, leaving investors without key demographic data to inform their decisions regarding rental investments in this area. The N/A days on market (DOM) and N/A percent price-cut share highlight the absence of critical information about how quickly properties are selling and the frequency of price reductions, which are essential metrics for understanding the local real estate market's liquidity and competition.

The 1530 FMR is the only concrete figure we have, indicating that landlords must set their rents at or below this amount to participate in Section 8. Without additional data on market rents, home values, income levels, and sales dynamics, it's difficult to make a comprehensive assessment of the investment potential in ZIP 01061. However, the reliance on the FMR suggests that the area may be heavily dependent on government assistance for housing, which could stabilize rental incomes but also limit the upside potential in a rapidly changing market. Given the scarcity of data, landlords and small-portfolio investors should proceed with caution, focusing on the 1530 FMR as the primary guide for pricing their units.

Section 8 verdict: Participation is viable based on the 1530 FMR, but limited data hinders a full evaluation of market conditions.

Data Sources: FMR data from HUD (2027).

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.