Location: Eastern 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 | $1,430 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,950 |
| 3 Bedrooms | $2,720 |
| 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 | $1,950 | $388,489 | 0.5% | F |
| 3BR | $2,720 | $506,918 | 0.54% | F |
| 4BR | $3,050 | $705,280 | 0.43% | F |
U.S. Census Bureau data (2024)
Northbridge, Massachusetts, located in Worcester County, is a ZIP code area characterized by a population of 6,230 residents. Unlike many other ZIP codes, Northbridge stands out due to its relatively low rental rate at 18.4%, indicating that the majority of the residents own their homes. The median household income here is $141,250, which is significantly higher than the national average. Furthermore, the median home value in Northbridge is $522,756, reflecting the overall economic status of the community.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 01534 in fiscal year 2024 is set at $1,500. This figure is notably higher than the Census ACS reported market rent of $1,226. Landlords should be aware that accepting Section 8 vouchers can provide a guaranteed source of income that exceeds the typical market rent in the area. This discrepancy between the FMR and the actual market rent suggests that there could be a potential for increased rental income by participating in the Section 8 program.
The data signature for Northbridge, MA, indicates a stable environment. With a high median income and home values, the area is likely to attract families and individuals who are financially secure. The low percentage of renters also implies that the housing market is predominantly owner-occupied, which can contribute to long-term stability in the neighborhood. However, the difference between the FMR and market rent might hint at some transitional dynamics, particularly if landlords are considering entering the rental market or expanding their portfolio with Section 8 properties.
Landlords and small-portfolio investors in Northbridge should evaluate the potential benefits of accepting Section 8 vouchers, especially given the financial guarantees they offer. While the area presents a stable backdrop, the opportunity to capitalize on the higher FMR could be a strategic move in a market where rental demand is lower compared to ownership. It's important to consider these factors carefully when making investment decisions in this ZIP code.
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.