Location: Fitchburg-Leominster, MA | Metro: Fitchburg-Leominster, MA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,500 |
| 1 Bedroom | $1,790 |
| 2 Bedrooms | $2,160 |
| 3 Bedrooms | $2,750 |
| 4 Bedrooms | $3,210 |
| 5 Bedrooms | $3,724 |
| 6 Bedrooms | $4,171 |
| 7 Bedrooms | $4,505 |
| 8 Bedrooms | $4,730 |
The analysis of ZIP code 01441, which falls under the Fitchburg-Leominster, MA HUD Metro FMR Area, reveals critical insights for landlords and small-portfolio investors.
The Fair Market Rent (FMR) for ZIP 01441 in fiscal year 2024 is set at $1740. Without specific market rent data available, it's impossible to directly compare these figures to determine if the rent math works. However, the FMR serves as a benchmark for rental pricing, indicating that properties rented above this amount might struggle to attract tenants eligible for Section 8 assistance.
Regarding property acquisition affordability, the lack of specific data on median home values, days on market (DOM), and the percentage of homes needing price cuts makes it difficult to provide a concrete assessment. These metrics would typically help gauge how competitive the housing market is and whether it's a good time to buy investment properties.
Tenant demand is another crucial factor. The absence of specific population and renter share percentages means we cannot accurately assess the number of potential tenants in the area. This information is vital for understanding the local rental market's health and the likelihood of finding consistent tenants.
Verdict: Investing in ZIP 01441 appears challenging due to insufficient data on market rents, median home values, DOM, price-cut shares, population, and renter share. To make informed decisions, landlords and small-portfolio investors should seek out detailed local market reports and consult with real estate professionals familiar with the area. Given the available data, the only clear figure is the FMR of $1740, which sets a baseline for rental pricing but does not offer a complete picture of the investment landscape.
Data Sources: FMR data from HUD (2027).
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.