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 | $1,970 |
| 1 Bedroom | $2,100 |
| 2 Bedrooms | $2,660 |
| 3 Bedrooms | $3,480 |
| 4 Bedrooms | $3,820 |
| 5 Bedrooms | $4,431 |
| 6 Bedrooms | $4,963 |
| 7 Bedrooms | $5,360 |
| 8 Bedrooms | $5,628 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,660 | $625,660 | 0.43% | F |
| 3BR | $3,480 | $736,483 | 0.47% | F |
| 4BR | $3,820 | $1,010,470 | 0.38% | F |
| 5BR | $4,431 | $1,311,702 | 0.34% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 01740, located in Bolton, MA, within the Eastern Worcester County, MA HUD Metro FMR Area, reveals key insights into its viability for rental investments. Firstly, regarding the rent math, the Family Market Rent (FMR) set at $2080 for fiscal year 2024 contrasts sharply with the average market rent of $1,583 according to the Census ACS. This indicates that landlords aiming to attract tenants eligible for Section 8 subsidies must adjust their expectations downward, as the market rent is significantly lower than the FMR.
Secondly, on the affordability of acquisitions, the median home value stands at $862,859. However, the lack of specific data on days on market (DOM) and the percentage of homes requiring price cuts suggests that while the acquisition cost is high, there's insufficient information to assess the typical time and conditions under which properties are sold. This ambiguity makes it difficult to predict the ease or difficulty of acquiring a property at a reasonable price.
Lastly, the tenant demand analysis shows a population of 5,737 with only 5.3% of residents being renters. This low renter share implies limited tenant demand, potentially making it challenging to find enough qualified applicants to fill rental units, especially those participating in the Section 8 program.
In summary, ZIP 01740 presents a scenario where the rent math does not align favorably with market realities, suggesting that landlords should focus on properties priced closer to the market rent rather than the FMR. The high median home value indicates that acquisitions will be costly, and without additional data on DOM and price-cut percentages, assessing the feasibility of buying at a discount remains uncertain. Furthermore, the low renter share points to a market with limited potential for attracting a large number of tenants. Overall, this area is not particularly attractive for small-portfolio investors or landlords seeking high tenant demand and favorable acquisition costs.
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.