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 | $1,430 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,320 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,860 | $445,021 | 0.42% | F |
| 3BR | $2,320 | $535,379 | 0.43% | F |
| 4BR | $2,640 | $836,604 | 0.32% | F |
U.S. Census Bureau data (2024)
The ZIP code 01560, located in Grafton, MA, has a population of 4,984 residents, with 38.3% being renters. This indicates a moderately renter-heavy environment, suitable for landlords and small-portfolio investors looking to tap into a decent-sized tenant pool. The median household income in this area stands at $107,031, which provides a baseline for understanding the financial capacity of potential tenants.
To assess the depth of voucher demand, compare the median market rent of $2,300 against the Fair Market Rent (FMR) figure of $1,610 for FY 2024. The market rent is significantly higher than the FMR, suggesting that while there may be some demand for vouchers, it is not as prevalent as in areas where the FMR closely aligns with market rents. In Grafton, MA, the typical rent eats up approximately 21.5% of the local median income, calculated as $2,300 divided by $107,031 and multiplied by 100. This percentage is relatively high, indicating that landlords might face challenges attracting tenants who rely solely on vouchers.
The discrepancy between the market rent and the FMR also implies that landlords in Grafton, MA, should expect a mix of tenants. Some will be those who can afford the higher market rates without assistance, while others may seek out properties where they can leverage their vouchers. However, given the higher market rent, landlords should prepare for a scenario where voucher holders alone might struggle to cover the full cost of housing, necessitating either additional income from other sources or co-signers.
In conclusion, while ZIP 01560 offers a moderate tenant pool, the higher market rent compared to the FMR suggests that landlords should anticipate a diverse set of tenants. These include individuals and families with higher incomes who can afford the local rental rates and those who may require a combination of vouchers and personal funds to meet the cost of housing. Landlords should be prepared to offer flexible leasing options and possibly consider properties that cater to a broader range of economic needs to maximize occupancy and minimize vacancy periods.
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.