Section 8 Fair Market Rent (FMR) for ZIP 01364 - 2027

Location: Franklin County, MA | Metro: Western Worcester County, MA HUD Metro FMR Area

Investment Score for ZIP 01364

Monthly Rent (2BR)

$1,680

Median Price (2BR)

$303,871

1% Rule

0.55%

Annual Yield

6.63%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,160
1 Bedroom	$1,280
2 Bedrooms	$1,680
3 Bedrooms	$2,020
4 Bedrooms	$2,320
5 Bedrooms	$2,691
6 Bedrooms	$3,014
7 Bedrooms	$3,255
8 Bedrooms	$3,418

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,280	$256,657	0.5%	F
2BR	$1,680	$303,871	0.55%	F
3BR	$2,020	$338,380	0.6%	F
4BR	$2,320	$348,805	0.67%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

7,658

Median Household Income

$55,532

Housing Units

3,449

Renter Percentage

29.7%

Occupancy Rate

89.4%

Renter Occupied

914

Orange, MA, located in the heart of the state's rural landscape, offers a unique blend of tranquility and accessibility, being just a short drive from larger cities like Worcester and Springfield. The town is known for its charming New England character, small-town atmosphere, and proximity to natural amenities such as parks and recreational areas.

The Fair Market Rent (FMR) for Orange, MA, for fiscal year 2024 is set at $1280. This figure represents the maximum amount that a low-income household should pay for housing to be considered affordable.
The average market rent for the area is currently $776, according to the latest Census American Community Survey (ACS) data. This suggests that there is a significant gap between the market rate and the FMR, indicating potential opportunities for rental properties priced slightly above market but below the FMR threshold.
The median home value in Orange, MA, stands at $317,212. This figure provides insight into the overall property values in the area, which can influence both rental and purchase decisions for investors.
Renters make up 29.7% of the population, showing a moderate demand for rental properties in the area. While not as high as in urban centers, this percentage still indicates a viable rental market for small-scale investors.
The median income for residents is $55,532. This economic indicator helps investors gauge the financial capacity of potential tenants and buyers, ensuring that investments align with the local economic reality.

The data points indicate that Orange, MA, presents a balanced investment opportunity for landlords and small-portfolio investors. With a moderate renter share and median income levels, the area supports a stable rental market where properties priced at or near the market rent can attract tenants. Additionally, the gap between the FMR and market rent allows for pricing flexibility, providing a buffer for landlords against potential economic fluctuations. The median home value also reflects a reasonable entry point for real estate purchases, making it feasible for investors to acquire properties without overextending their budgets. Overall, Orange, MA, offers a promising yet conservative investment environment, suitable for those looking to diversify their portfolios in a less competitive market.

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.