Location: Boston-Cambridge-Quincy, 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 | $390,450 | 0.68% | D |
| 3BR | $3,180 | $552,878 | 0.58% | F |
| 4BR | $3,510 | $718,992 | 0.49% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 01464, located in Shirley, MA, within the Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, does not align favorably. The Fair Market Rent (FMR) set at $2380 for the fiscal year 2024 contrasts sharply with the actual market rent of $1,481 based on Census ACS data. This discrepancy suggests that landlords might struggle to achieve rents close to the FMR, which could impact profitability.
Acquisition in this area is relatively affordable given the median home value of $551,831. However, the lack of available data on days on market (DOM) and the low percentage of homes needing price cuts (0.1%) indicate a stable but not particularly dynamic market. While the median home value is high, it's balanced by the stability of the local real estate market, making it a safe investment for those seeking long-term holdings.
Tenant demand is present but limited. With a total population of 6,976, the renter share stands at 22.6%, translating to approximately 1,579 renters. This figure indicates a smaller pool of potential tenants compared to more densely populated areas, which could affect the speed and ease of renting out properties.
In summary, while the acquisition cost is reasonable and the market is stable, the mismatch between FMR and actual market rents poses a significant challenge. Tenant demand exists but is modest, suggesting that landlords should carefully consider their pricing strategies and be prepared for potentially longer vacancy periods. The area is suitable for investors willing to accept lower yields in exchange for stability and a good quality of life for tenants.
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.