Location: Eastern Worcester County, MA | Metro: Eastern Worcester County, MA 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 | $1,420 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $2,040 |
| 3 Bedrooms | $2,800 |
| 4 Bedrooms | $3,050 |
| 5 Bedrooms | $3,538 |
| 6 Bedrooms | $3,963 |
| 7 Bedrooms | $4,280 |
| 8 Bedrooms | $4,494 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,040 | $318,659 | 0.64% | D |
| 3BR | $2,800 | $481,914 | 0.58% | F |
| 4BR | $3,050 | $625,434 | 0.49% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 01529, which encompasses Millville, Massachusetts, stands at $127,188. This places many households in a strong financial position, but when it comes to affording the market rate rent of $1,468, the situation becomes more nuanced. The Federal Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1,620, indicating the standard payment amount for Section 8 vouchers.
To frame this from the renter's perspective, a household earning the median income would have a significant portion of their earnings allocated towards housing if they were to pay the market rate. However, with the FMR being slightly higher than the market rate, those with Section 8 vouchers might find themselves in a better position to cover rental costs without excessive strain on their budget.
With only 13.1% of the population being renters and a total population of 3,160, the competition among landlords for tenants is relatively low. This means that landlords can be selective about the type of tenants they choose, whether it be those paying cash or those utilizing Section 8 vouchers. Given the median income and the fact that the FMR exceeds the market rate, landlords should consider the benefits of accepting vouchers.
The takeaway for landlords considering voucher versus cash-pay strategies is that while the demand for rentals is not high due to the low percentage of renters, the financial stability provided by Section 8 vouchers can be an attractive option. Vouchers ensure timely payments and can cover a higher rent than the current market rate, making them a reliable choice. For those who prefer cash-paying tenants, they should be prepared to offer competitive rates and possibly incentives to attract and retain residents in a market where the median income suggests a preference for homeownership over renting.
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.