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 | $1,900 |
| 1 Bedroom | $2,130 |
| 2 Bedrooms | $2,700 |
| 3 Bedrooms | $3,360 |
| 4 Bedrooms | $3,550 |
| 5 Bedrooms | $4,118 |
| 6 Bedrooms | $4,612 |
| 7 Bedrooms | $4,981 |
| 8 Bedrooms | $5,230 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,700 | $391,071 | 0.69% | D |
| 3BR | $3,360 | $485,005 | 0.69% | D |
| 4BR | $3,550 | $624,320 | 0.57% | F |
| 5BR | $4,118 | $748,625 | 0.55% | F |
U.S. Census Bureau data (2024)
The ZIP code 01106, located in Longmeadow, Massachusetts, has a population of 15,853 residents, with only 10.9% being renters. This indicates that the area is predominantly homeowner-dominated, which means that the demand for rental properties using Section 8 vouchers is likely to be lower compared to areas with higher percentages of renters.
The median household income in this ZIP code is $147,935, significantly higher than the national average. The market rent for the area is $1,802 per month, which represents approximately 12.2% of the median household income. This percentage is relatively low, suggesting that typical rents are affordable for most households in the area.
Comparing the market rent to the Fair Market Rent (FMR), which is set at $2,060 for FY 2024, the actual market rent in ZIP 01106 is slightly below the FMR. This could imply that landlords might have some flexibility in pricing their rentals without exceeding the voucher limits.
In terms of tenant profiles, landlords in ZIP 01106 can expect a mix of tenants who are financially stable and capable of paying market rates without relying on vouchers. However, due to the lower percentage of renters, those seeking Section 8 vouchers will be fewer in number. Landlords should prepare for a competitive environment when it comes to attracting voucher holders, as the scarcity of such tenants means they may have more options available to them.
To summarize, ZIP 01106 is not a renter-heavy area with deep voucher demand; instead, it is a homeowner-dominated region where typical rents consume a modest portion of local income. The expected tenant profile includes individuals and families who are likely to be financially secure and able to meet rental obligations independently of government assistance.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.