Location: Pittsfield, MA | Metro: Pittsfield, MA HUD Metro FMR Area
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 | $1,230 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,600 |
| 3 Bedrooms | $2,130 |
| 4 Bedrooms | $2,670 |
| 5 Bedrooms | $3,097 |
| 6 Bedrooms | $3,469 |
| 7 Bedrooms | $3,747 |
| 8 Bedrooms | $3,934 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,600 | $317,202 | 0.5% | F |
| 3BR | $2,130 | $365,736 | 0.58% | F |
| 4BR | $2,670 | $418,359 | 0.64% | D |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 01225, which includes Cheshire, MA, in the Pittsfield, MA HUD Metro FMR Area, is set at $1620 per month for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent to participate in the Section 8 housing choice voucher program.
However, the market rent for this area is currently not available. Without this comparative data, it's challenging to determine if voucher tenants will cashflow at the FMR rate, marginally, or only with premium units. Typically, a market analysis would require this information to provide a precise recommendation.
The median home value in the ZIP code is $353,760. To derive the rent-to-price ratio, we divide the annualized FMR by the median home value. Assuming an average apartment rental term of one year, the annual FMR is approximately $19,440. Dividing this by the median home value gives us a rough estimate of the rent-to-price ratio, which is around 5.5%. This suggests that the rental income generated by a property priced at the median home value would cover about 5.5% of its cost annually.
Note that the days on market (DOM) and the percentage of homes that experience price cuts are not available for this analysis. These metrics could be relevant if there were significant differences between renting and buying in the area, but without them, we cannot make a direct comparison.
The strongest investor angle in ZIP 01225 appears to be stability. The Section 8 program provides a reliable source of tenants who have their rent subsidized, reducing the risk of vacancy and ensuring steady cash flow. This is particularly valuable in an area where market rent data is unavailable, making it difficult to predict future rent trends. Additionally, the HUD FMR is set annually, providing a predictable framework for budgeting and financial planning. For those focused on long-term investments, the consistent demand for affordable housing and the government-backed payment process can offer a secure and stable investment opportunity.
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.