Location: Western Worcester County, MA | Metro: Worcester, 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 | $1,550 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,780 |
| 4 Bedrooms | $3,360 |
| 5 Bedrooms | $3,898 |
| 6 Bedrooms | $4,366 |
| 7 Bedrooms | $4,715 |
| 8 Bedrooms | $4,951 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,780 | $496,433 | 0.56% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 01531 in fiscal year 2024 is set at $1480. This figure represents the payment standard that landlords will receive from the government for participating in the Section 8 program. It's important to note that this is not the amount you can charge tenants for rent; it's the maximum reimbursement you'll get from the Housing Choice Voucher program.
To put this into perspective, the average rent in ZIP 01531, according to the Census American Community Survey, is $1484. This means the FMR is slightly below the market rate, but still competitive. Given that 10.2% of residents in this area are renters, there is a consistent demand for affordable housing options, which could translate into a steady stream of potential tenants for your property.
If you're considering purchasing a property in this ZIP code to enter the Section 8 market, be aware that the median home value is around $458,750. This reflects the typical cost of acquiring a home in this area, which should be factored into your investment calculations. While the FMR won't cover the entire mortgage, it can provide a reliable source of income to help manage your financial obligations.
Before making the final decision to enroll in Section 8, verify that your property meets the required housing quality standards known as the Housing Quality Standards (HQS). These standards ensure that the rental unit is safe, decent, and sanitary for tenants. Failure to meet these standards can result in disqualification from the program, so it's crucial to have your property inspected and any necessary repairs completed prior to application.
In summary, with an FMR of $1480, you can expect a payment that aligns closely with the local average rent of $1484. The 10.2% renter share suggests a manageable demand, while the acquisition cost of about $458,750 sets the baseline for your investment. Ensure your property meets HQS requirements to avoid any issues once you join the program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.