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 | $1,160 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,680 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,230 |
| 5 Bedrooms | $2,587 |
| 6 Bedrooms | $2,897 |
| 7 Bedrooms | $3,129 |
| 8 Bedrooms | $3,285 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,680 | $310,787 | 0.54% | F |
| 3BR | $2,020 | $343,029 | 0.59% | F |
| 4BR | $2,230 | $368,049 | 0.61% | D |
U.S. Census Bureau data (2024)
Erving, Massachusetts, with a ZIP code of 01344, is a small, tight-knit community situated in the heart of Franklin County. The neighborhood is primarily residential, with a total population of 1,703 residents. Only 18.5% of the residents are renters, indicating a predominantly owner-occupied environment. The median household income stands at $77,656, reflecting a middle-class area where families can afford decent living standards. The median home value is $330,260, which suggests a modest yet comfortable housing market.
Moving into the economic landscape of rental properties, the Fair Market Rent (FMR) for ZIP 01344 is set at $1,160 for the fiscal year 2024. This figure is nearly identical to the market rent, which is recorded at $1,163 according to the latest Census ACS data. This close alignment between FMR and market rent indicates that the rental market is stable and closely follows the guidelines set by the Department of Housing and Urban Development (HUD).
The practical implications for investors considering Erving, MA, are clear. For those looking for a hands-off approach to managing their investment through Section 8 vouchers, the ZIP 01344 offers a suitable environment. The stability in rent prices means that voucher payments will cover most of the rental costs, minimizing financial risk. However, for value-add buyers who seek to improve and potentially increase the value of their properties, Erving presents fewer opportunities due to its small size and limited rental market. With only 18.5% of the population renting, there is less demand for rental properties, making it harder to justify significant investments in property upgrades.
In conclusion, ZIP 01344 is best suited for hands-off operators who can rely on the consistency of Section 8 vouchers. The modest income levels and stable rent prices make it a reliable but not highly lucrative market for active, hands-on investors seeking substantial returns through property improvements and increased rents.
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.