Section 8 Fair Market Rent (FMR) for ZIP 01545 - 2027

Location: Worcester, MA | Metro: Worcester, MA HUD Metro FMR Area

Investment Score for ZIP 01545

Monthly Rent (2BR)

$2,780

Median Price (2BR)

$502,119

1% Rule

0.55%

Annual Yield

6.64%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,150
1 Bedroom	$2,160
2 Bedrooms	$2,780
3 Bedrooms	$3,480
4 Bedrooms	$3,970
5 Bedrooms	$4,605
6 Bedrooms	$5,158
7 Bedrooms	$5,571
8 Bedrooms	$5,850

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$2,160	$268,850	0.8%	C
2BR	$2,780	$502,119	0.55%	F
3BR	$3,480	$625,103	0.56%	F
4BR	$3,970	$913,890	0.43%	F
5BR	$4,605	$1,065,679	0.43%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

38,876

Median Household Income

$139,302

Housing Units

15,393

Renter Percentage

27.8%

Occupancy Rate

95.5%

Renter Occupied

4,085

ZIP code 01545, located in Shrewsbury, MA, is positioned within the larger Worcester, MA HUD Metro FMR Area. Comparatively, its Fair Market Rent (FMR) of $2,210 for fiscal year 2024 is slightly below the market rent of $2,394. This indicates that while the FMR provides a benchmark for affordable housing, the actual rental market in Shrewsbury demands a bit more.

The median home value in Shrewsbury is $690,921, which places it in the mid-tier range when compared to other ZIP codes within the Worcester, MA HUD Metro FMR Area. This suggests that while properties in Shrewsbury are not the most expensive in the region, they are still valued above average, reflecting a balance between affordability and desirability.

A notable feature of ZIP 01545 is its relatively high renter share of 27.8%. This percentage is indicative of a neighborhood where a significant portion of residents prefer renting over owning. In the context of Section 8 real estate analysis, this high renter share combined with below-market home values can signal a potential sweet spot for landlords who wish to participate in the Section 8 program.

To further contextualize these figures, consider the following:

Fair Market Rents (FMR): At $2,210, the FMR in Shrewsbury is competitive within the Worcester area, but slightly lower than the market rent. This means that landlords participating in the Section 8 program might see a slight margin between the FMR and what the market can bear, offering some flexibility in setting rents.
Home Values: The median home value of $690,921 aligns Shrewsbury as a mid-tier neighborhood within the metro. This could attract both middle-income buyers and renters, providing a steady demand for rental units.
Renter Share: With a 27.8% renter share, Shrewsbury has a higher concentration of renters than many other ZIP codes in the area. This makes it particularly attractive for landlords interested in the rental market, especially those who can leverage the Section 8 program to fill units.

In summary, ZIP 01545 stands out as a mid-tier neighborhood within the Worcester, MA HUD Metro FMR Area. Its combination of slightly below-market FMRs, mid-range home values, and a high renter share makes it an appealing location for landlords and small-portfolio investors looking to engage in the rental market, particularly through the Section 8 program.

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.