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 | $1,250 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,140 |
| 4 Bedrooms | $2,370 |
| 5 Bedrooms | $2,749 |
| 6 Bedrooms | $3,079 |
| 7 Bedrooms | $3,325 |
| 8 Bedrooms | $3,491 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,800 | $299,395 | 0.6% | D |
| 3BR | $2,140 | $337,308 | 0.63% | D |
| 4BR | $2,370 | $363,137 | 0.65% | D |
U.S. Census Bureau data (2024)
ZIP code 01376, located in Turners Falls, MA, is situated within the Franklin County, MA metro area. The Family Monthly Rent (FMR) for this ZIP code is set at $1,350 for fiscal year 2024, which is notably higher than the market rent average of $1,115. This indicates that 01376 has a higher subsidized rent cost compared to what the general market offers, potentially making it attractive for landlords participating in the Section 8 program.
The median home value in 01376 stands at $321,648, which is likely reflective of the broader trends seen in other ZIP codes within Franklin County. However, the significant proportion of renters, at 44.9%, exceeds the typical renter share found in many other ZIP codes within the county. This high renter share combined with lower-than-FMR market rents suggests that 01376 could be considered a value pocket for Section 8 investors. It offers a good balance between the potential for rental income through the Section 8 program and the actual market conditions.
To further contextualize, if we observe that the FMR is above the market rent, it implies that landlords in 01376 can receive higher subsidies than the local market rate would otherwise justify. This scenario is advantageous for landlords looking to secure steady rental income through government assistance programs while maintaining a competitive edge over unsubsidized rentals in the area.
Additionally, the high renter share points to a community where a substantial portion of residents rely on rental housing. In such a setting, landlords who are willing to accept Section 8 vouchers can tap into a large pool of eligible tenants, ensuring occupancy rates remain high. This characteristic makes 01376 a particularly strategic location for small-portfolio investors interested in leveraging the Section 8 program to stabilize their investment properties.
In summary, ZIP 01376 presents itself as a value pocket within the Franklin County, MA metro area, offering favorable conditions for Section 8 participation due to its higher FMR relative to market rent and a significant percentage of renters.
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.