Location: Franklin County, MA | Metro: Berkshire County, MA (part) HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,680 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,590 |
| 5 Bedrooms | $3,004 |
| 6 Bedrooms | $3,364 |
| 7 Bedrooms | $3,633 |
| 8 Bedrooms | $3,815 |
U.S. Census Bureau data (2024)
The ZIP code 01343, located in Massachusetts, stands out due to its unique demographic characteristics. With only 147 residents, it is one of the smallest ZIP codes in terms of population size. Additionally, the rental rate in ZIP 01343 is 18.7%, which is below the national average. The median income for the area is $69,375, indicating a relatively stable financial situation among its inhabitants.
Despite these figures, the median home value for ZIP 01343 is not available, which could suggest limited housing transactions or a unique local real estate market. However, the Fair Market Rent (FMR) for ZIP 01343 in fiscal year 2024 is set at $1,360. This figure is crucial for landlords and small-portfolio investors who participate in the Section 8 program, as it determines the maximum rent that can be charged for a unit under the voucher system.
Comparatively, the market rent for the area is also not specified, making it challenging to gauge the exact impact of the FMR on the local real estate market. Nevertheless, the FMR provides a benchmark for rental prices, ensuring affordability for low-income tenants while offering a predictable revenue stream for landlords.
The data signature for ZIP 01343 suggests a stable environment. Given the limited number of residents and the low rental rate, the demand for rental properties might be moderate. Landlords and small-portfolio investors should consider the FMR as a reliable indicator for setting rents, especially if they plan to accept Section 8 vouchers. This stability can be advantageous for those looking to invest in a predictable market segment.
Data Sources: FMR data from HUD (2027). 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.