Location: Franklin County, MA | Metro: Franklin County, MA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,350 |
| 1 Bedroom | $1,480 |
| 2 Bedrooms | $1,940 |
| 3 Bedrooms | $2,310 |
| 4 Bedrooms | $2,540 |
| 5 Bedrooms | $2,946 |
| 6 Bedrooms | $3,300 |
| 7 Bedrooms | $3,564 |
| 8 Bedrooms | $3,742 |
U.S. Census Bureau data (2024)
ZIP code 01347, located within Franklin County, MA, presents a unique scenario when compared to typical ZIP codes in the same county. The Fair Market Rent (FMR) for 01347 stands at $1580 for fiscal year 2024, which serves as a key indicator for rental pricing trends.
The lack of specific market rent and home value data for ZIP 01347 makes direct comparisons challenging. However, the high renter share of 55.7% suggests that a significant portion of residents rely on rental housing. This characteristic can be indicative of an area that might appeal to Section 8 landlords due to the potential demand for affordable rentals.
In Franklin County, MA, ZIP codes with similar FMRs often exhibit lower renter shares, typically around 40-50%. The higher renter share in 01347 could signal a concentration of households seeking rental assistance, potentially creating a value pocket where Section 8 vouchers are particularly sought after.
A value pocket is characterized by below-average home values and rental rates, making it attractive for tenants with limited budgets. Since the specific market rent and home value data for 01347 are not available, we cannot definitively classify it as a value pocket, a mid-tier neighborhood, or a premium sub-market. However, the high FMR and substantial renter share suggest that 01347 leans towards being a mid-tier neighborhood with a notable presence of rental units.
Landlords and small-portfolio investors should consider the high renter share as an opportunity, especially if they are willing to accept Section 8 vouchers. The absence of market rent and home value data implies that 01347 might be less explored or documented compared to other ZIP codes in the county, offering a niche for those who understand the intricacies of the local rental market.
To make a more informed decision, landlords and investors should research additional local factors such as employment opportunities, public transportation access, and the overall economic climate of ZIP 01347. These elements can provide further insights into the potential success of rental properties in this area.
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.