Location: Springfield, MA | Metro: Springfield, MA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,410 | $303,874 | 0.46% | F |
| 2BR | $1,790 | $389,715 | 0.46% | F |
| 3BR | $2,230 | $448,188 | 0.5% | F |
| 4BR | $2,360 | $555,231 | 0.43% | F |
| 5BR | $2,738 | $664,959 | 0.41% | F |
U.S. Census Bureau data (2024)
The ZIP code 01095, located in Wilbraham, MA, presents a dynamic rental market that is currently in flux. The Fair Market Rent (FMR) for the area stands at $1340 for the fiscal year 2024, indicating a higher benchmark set by the government for affordable housing standards. In contrast, the actual market rent as reported by the Census Bureau's American Community Survey (ACS) is $1,175. This suggests that while the government's assessment of fair rent is higher, the real estate market in Wilbraham has its own equilibrium, possibly influenced by local economic conditions and the balance between supply and demand.
The 0.2% price-cut share reflects a very slight adjustment in asking rents, suggesting that landlords are generally maintaining their pricing without significant concessions. However, the absence of data on days on market (DOM) leaves some uncertainty regarding how quickly properties are being rented, which could be an indicator of either strong demand or efficient marketing practices.
The median home value in Wilbraham is $472,937, providing a reference point for the overall cost of homeownership in the area. With a renter share of 11.1%, it becomes evident that a majority of residents prefer homeownership over renting. This low percentage of renters could imply that there is less long-term housing pressure in the rental market, as fewer people are seeking rental properties. Conversely, it also suggests that the rental market may be less competitive, potentially leading to more stable rental prices and fewer incentives for landlords to lower their rates.
The interplay between these factors—government-set FMRs, actual market rents, price-cut shares, and the proportion of renters—paints a picture of a market where demand is steady but not overwhelming, and supply is sufficient to meet the needs of renters without causing significant downward pressure on rental prices. Landlords can expect to maintain their rental income levels with minimal adjustments, given the current snapshot of the market. Small-portfolio investors should consider the relatively low renter share when evaluating the potential for rental income growth in this area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.