Location: Eastern Worcester County, 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 |
|---|---|---|---|---|
| 3BR | $3,180 | $585,926 | 0.54% | F |
U.S. Census Bureau data (2024)
ZIP code 01434 is characterized by a population of 1,564 residents, with 33.5% identified as renters. The median household income in this area stands at $162,143, which provides a strong financial backdrop for potential tenants. However, the percentage of renters suggests that this is not a renter-heavy ZIP; rather, it leans towards a balance between homeownership and renting.
The market rent for properties in ZIP 01434 is $1,183 per month. This figure represents approximately 7.3% of the median household income, indicating that typical rental costs consume a relatively small portion of local incomes. For context, the Fair Market Rent (FMR) for the area, as set for FY 2024, is $2,380. This means that the actual market rent is significantly lower than the FMR, which can be advantageous for landlords participating in the Section 8 program.
Given these conditions, landlords in ZIP 01434 can anticipate a tenant pool that is financially stable but may not have a high volume of Section 8 voucher holders. The demand for vouchers is likely to be moderate due to the mixed housing market and the relatively low cost of living compared to the median income. Landlords should prepare for tenants who are capable of paying rent out-of-pocket or through a combination of personal funds and vouchers.
To summarize, while there is a notable presence of renters in ZIP 01434, the overall market is not dominated by them. The lower-than-FMR market rent suggests that landlords could benefit from the Section 8 program without facing significant financial strain. Tenants are expected to be financially secure, able to contribute a substantial portion of their own resources towards rent payments.
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.