Location: Fitchburg-Leominster, MA | Metro: Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area
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 | $2,130 |
| 1 Bedroom | $2,230 |
| 2 Bedrooms | $2,650 |
| 3 Bedrooms | $3,180 |
| 4 Bedrooms | $3,510 |
| 5 Bedrooms | $4,072 |
| 6 Bedrooms | $4,561 |
| 7 Bedrooms | $4,926 |
| 8 Bedrooms | $5,172 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,650 | $387,083 | 0.68% | D |
| 3BR | $3,180 | $494,902 | 0.64% | D |
| 4BR | $3,510 | $561,905 | 0.62% | D |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 01431, which includes Ashby, MA, is set at $2380 for fiscal year 2024. This figure is significantly higher than the average market rent reported by the Census Bureau's American Community Survey (ACS), which stands at $1,200 per month. Given these numbers, voucher tenants in this area would generally cashflow positively at the HUD FMR, indicating that landlords can expect a substantial financial benefit when renting to tenants with vouchers.
To further analyze the investment potential, consider the median home value in the area, which is $478,251. Using the HUD FMR of $2380, the monthly rent-to-price ratio for this ZIP code is approximately 0.5%. This ratio suggests that rental income from a property valued at the median would cover less than half of its cost, making it less favorable for buy-and-hold investors looking to generate income through rentals alone. However, for those participating in the Section 8 program, the higher voucher amount can offset this disparity.
In terms of the broader real estate market, the data shows an N/A-day median Days on Market (DOM) and an N/A% share of homes that experienced price cuts. While these metrics are not available, they typically play a role in assessing the health of the housing market and can influence the decision-making process for investors. The lack of specific data does not detract from the strong cashflow potential offered by the Section 8 program in this ZIP code.
The strongest angle for investors in ZIP 01431 is the potential for cashflow. With voucher amounts well above the market rent, landlords can secure steady, government-backed income streams that are less susceptible to market fluctuations. This makes the area particularly attractive for those seeking reliable returns rather than rapid appreciation or speculative gains.
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.