Location: Boston-Cambridge-Quincy, MA | Metro: Boston-Cambridge-Quincy, MA-NH 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 | $2,710 |
| 1 Bedroom | $2,800 |
| 2 Bedrooms | $3,340 |
| 3 Bedrooms | $3,980 |
| 4 Bedrooms | $4,390 |
| 5 Bedrooms | $5,092 |
| 6 Bedrooms | $5,703 |
| 7 Bedrooms | $6,159 |
| 8 Bedrooms | $6,467 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,800 | $406,862 | 0.69% | D |
| 2BR | $3,340 | $580,279 | 0.58% | F |
| 3BR | $3,980 | $663,912 | 0.6% | F |
| 4BR | $4,390 | $989,170 | 0.44% | F |
| 5BR | $5,092 | $1,050,367 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 01721 in Ashland, Massachusetts, presents an interesting balance between yield and stability for real estate investors. On the yield axis, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $2,890, which is notably higher than the average market rent of $2,697. This suggests that properties eligible for Section 8 could command slightly higher rents compared to non-subsidized units, offering a modest premium for landlords who can secure these tenants.
However, the median home value of $670,614 indicates that this is a relatively expensive area, which could affect the overall profitability of rental investments. The higher FMR does provide some relief against the cost of acquiring property in this ZIP code, but it is essential to consider the initial investment required to enter the market.
Moving to the stability axis, the rental market in Ashland appears to be somewhat stable, with 24.7% of residents being renters. While this percentage is not exceptionally high, it does suggest a consistent demand for rental properties. Unfortunately, the lack of data on the number of days on market (DOM) makes it challenging to assess the speed at which properties are rented out, which is a critical factor for cash flow management.
The average household income of $127,539 is quite robust, indicating a strong economic base that supports both rental and homeownership markets. This high income level can translate into greater financial stability among tenants, reducing the risk of default or eviction.
Based on these figures, ZIP 01721 is best classified as a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The slight increase in FMR over market rent provides a reasonable yield, but the high median home value and strong income levels contribute significantly to the stability of the rental market. Landlords and small-portfolio investors should find a reliable source of income here, with less emphasis on achieving extremely high yields.
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.