Section 8 Fair Market Rent (FMR) for ZIP 01086 - 2027
Location: Springfield, MA | Metro: Springfield, MA MSA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,260 |
| 1 Bedroom | $1,410 |
| 2 Bedrooms | $1,790 |
| 3 Bedrooms | $2,230 |
| 4 Bedrooms | $2,360 |
| 5 Bedrooms | $2,738 |
| 6 Bedrooms | $3,067 |
| 7 Bedrooms | $3,312 |
| 8 Bedrooms | $3,478 |
To determine if a landlord should buy in ZIP code 01086 (Unknown, MA) for Section 8 purposes, follow these steps:
- Does FMR $1,710 (metro FY 2026) cover debt service on a property?
- If yes: Proceed to the next question.
- If no: Do not invest in this area for Section 8. The Fair Market Rent (FMR) does not sufficiently cover the cost of owning a property here.
- Is the market rent above, at, or below FMR?
- If above FMR: Consider other investment options. The market rent is higher than what most Section 8 tenants can afford.
- If at FMR: This ZIP code could be suitable for Section 8 investments. The market rent aligns with the FMR, making it feasible for Section 8 tenants.
- If below FMR: This area might be attractive for Section 8 investments, but it also suggests that the area may have lower rental demand overall.
- Are there enough renters and is the Days on Market (DOM) sufficient?
- If there are enough renters and DOM is low: Yes, invest in this ZIP code. There is strong demand for rental properties.
- If there are enough renters but DOM is high: It depends. High DOM could indicate that properties are overpriced or there's a mismatch between what landlords offer and what renters want.
- If there are not enough renters regardless of DOM: No, do not invest. Insufficient demand will make it difficult to find tenants, even for Section 8 properties.
Note: Specific percentages and DOM days were not provided in the initial query. These factors are critical in determining whether there is enough demand to support a Section 8 investment. Without precise data, the decision can only be partially informed.
The Fair Market Rent of $1,710 is a key figure to consider when evaluating properties for Section 8 eligibility. However, without knowing the exact market rent and the percentage of renters in the area, along with the average Days on Market, a fully informed decision cannot be made.
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.