Location: Franklin County, MA | Metro: Franklin County, MA
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 | $1,280 |
| 1 Bedroom | $1,410 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,190 |
| 4 Bedrooms | $2,420 |
| 5 Bedrooms | $2,807 |
| 6 Bedrooms | $3,144 |
| 7 Bedrooms | $3,396 |
| 8 Bedrooms | $3,566 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,840 | $304,729 | 0.6% | D |
| 3BR | $2,190 | $343,050 | 0.64% | D |
| 4BR | $2,420 | $382,147 | 0.63% | D |
| 5BR | $2,807 | $464,911 | 0.6% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 01301, Greenfield, MA, are straightforward. For a two-bedroom rental unit, the SAFMR (Small Area Fair Market Rent) is set at $1400 per month for fiscal year 2024. This SAFMR figure is specifically tailored for this ZIP code, reflecting the localized housing market conditions.
Compared to the local market rent, which is measured at $1,700 using ZORI (Zillow Observed Rent Index), landlords might initially see a discrepancy. However, the actual payment received from a Section 8 voucher is influenced by several factors including the tenant's contribution and utility allowances.
Tenants participating in the Section 8 program are required to pay 30% of their adjusted income toward rent. If we assume an average adjusted income of $1,400 for a household in this area, the tenant would contribute approximately $420 monthly towards rent. Utility allowances can vary but typically do not cover the entire cost of utilities, leaving tenants to pay a portion out-of-pocket.
The Housing Authority then pays the difference between the tenant’s contribution and the SAFMR. In this case, if the tenant contributes $420, the Housing Authority will cover the remaining $980 to meet the SAFMR of $1400. Therefore, the total reimbursement to the landlord would be $1,400.
This leaves a gap of $300 between the SAFMR and the local market rent. Landlords must decide whether they are willing to accept this lower reimbursement rate or seek other means to bridge the gap, such as raising the utility allowance or adjusting the property management strategy to attract non-voucher tenants who might pay the full market rent.
In summary, landlords in ZIP 01301 can expect a reimbursement of $1,400 for a two-bedroom unit, resulting in a typical reimbursement gap of $300 compared to the local market rent of $1,700. This economic reality shapes the decision-making process for landlords considering participation in the Section 8 program.
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.