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 |
|---|---|---|---|---|
| 3BR | $2,020 | $340,024 | 0.59% | F |
U.S. Census Bureau data (2024)
The analysis of the Section 8 cap-rate scenario for ZIP code 01346 in Georgia reveals two distinct possibilities based on the provided data.
First, using the Fair Market Rent (FMR) for a 2-bedroom apartment at $1310 per month for fiscal year 2024, the annualized rental income would be $15,720. Given the median home value of $168,823, this translates into an implied gross yield of approximately 9.31%. This calculation assumes that the property can be rented out at the FMR rate, which is set by HUD for Section 8 eligibility.
Second, since the market rent is listed as N/A, it's important to consider what this might imply. If we assume the market rent could potentially be higher than the FMR, but without specific data, we cannot provide a precise gross yield. However, it's reasonable to infer that if market rents were significantly higher, the gross yield would also increase accordingly, possibly exceeding the 9.31% derived from the FMR.
Given the 5.0% renter density in the area, it's clear that the demand for rental properties is relatively low. This suggests that finding a tenant willing to pay the FMR rate might be challenging, especially considering the lack of data on the days-on-market (DOM), which is also listed as N/A. The DOM metric is crucial as it indicates how quickly properties are leased, affecting vacancy rates and thus the overall profitability.
In conclusion, while the FMR-based gross yield of 9.31% provides a concrete figure, the absence of market rent data and the uncertainty around the DOM makes it difficult to definitively state which scenario is more realistic. However, the low renter density points towards a scenario where achieving the FMR might be tough, implying that the actual gross yield could be lower unless the property has unique features that attract tenants despite the market conditions.
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.