Location: Amherst Town-Northampton, MA | Metro: Amherst Town-Northampton, MA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,640 |
| 1 Bedroom | $1,840 |
| 2 Bedrooms | $2,350 |
| 3 Bedrooms | $3,080 |
| 4 Bedrooms | $3,200 |
| 5 Bedrooms | $3,712 |
| 6 Bedrooms | $4,157 |
| 7 Bedrooms | $4,490 |
| 8 Bedrooms | $4,715 |
U.S. Census Bureau data (2024)
ZIP code 01063 is located in Deering, New Hampshire. This small town has a population of 2,272 residents, all of whom are renters, indicating a rental-focused community. The median household income in this area stands at $91,344, suggesting that tenants have a relatively high earning capacity compared to the national average.
The median home value is not available for this ZIP code, which aligns with its status as an entirely rental-based community. The Fair Market Rent (FMR) for ZIP 01063, as set by the U.S. Department of Housing and Urban Development for fiscal year 2024, is $1,760. However, specific market rent data is not available, making it challenging to compare the FMR with actual market conditions directly.
Given the high median income and the fact that every resident is a renter, landlords and small-portfolio investors might find this ZIP code appealing. It suggests a stable tenant base capable of paying consistent rent. The absence of market rent data means that the FMR could serve as a benchmark for setting rental rates, ensuring compliance with HUD guidelines while potentially capturing a higher rent if the local demand exceeds supply.
In terms of investment strategy, ZIP 01063 could be suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the presence of Section 8 vouchers can provide a reliable stream of income with minimal risk, given the stable economic conditions of the area. On the other hand, for hands-on investors looking to improve property values, the potential for higher rents than the FMR implies opportunities to increase cash flow through property enhancements and effective management practices.
Investors should also consider the unique characteristics of Deering, such as its small-town atmosphere and the possibility of limited competition in the rental market. These factors could influence the decision-making process regarding the type of investment approach to take.
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.