Location: Worcester, 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 | $1,510 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,950 |
| 3 Bedrooms | $2,440 |
| 4 Bedrooms | $2,780 |
| 5 Bedrooms | $3,225 |
| 6 Bedrooms | $3,612 |
| 7 Bedrooms | $3,901 |
| 8 Bedrooms | $4,096 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,950 | $466,076 | 0.42% | F |
| 3BR | $2,440 | $560,071 | 0.44% | F |
| 4BR | $2,780 | $861,422 | 0.32% | F |
U.S. Census Bureau data (2024)
ZIP code 01536, located in Grafton, MA, falls within the broader Worcester, MA HUD Metro FMR Area. Its Fair Market Rent (FMR) of $1910 for fiscal year 2024 is notably higher than the median market rent of $1,293, indicating that it is positioned as a premium sub-market within the metro area. The average home value in 01536 stands at $568,001, which is also above the typical home value within the Worcester, MA HUD Metro FMR Area.
The renter share in 01536 is 23.1%, which is relatively low compared to many other ZIP codes in the Worcester, MA HUD Metro FMR Area. This suggests that Grafton leans more towards being a homeowner-centric community rather than a rental hotspot. However, the combination of a higher FMR and a below-average home value compared to the metro area can be advantageous for landlords and small-portfolio investors looking to capitalize on the difference between what tenants can afford and what homes are valued at.
While the high FMR indicates a premium sub-market, the lower renter share and slightly below-metro home value do not necessarily suggest a Section 8 sweet spot. A typical Section 8 sweet spot would have a higher renter share and lower home values relative to the FMR. In this case, landlords should consider the premium nature of the market when setting rents and expectations for property values.
To summarize, ZIP 01536 is a premium sub-market within the Worcester, MA HUD Metro FMR Area, characterized by higher FMRs and above-average home values. Despite the lower renter share, the discrepancy between the FMR and home values presents an opportunity for strategic investment in rental properties. Landlords should focus on properties that can command higher rents due to the premium nature of the market.
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.