Location: Worcester, 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 | $2,670 |
| 1 Bedroom | $2,750 |
| 2 Bedrooms | $3,290 |
| 3 Bedrooms | $3,920 |
| 4 Bedrooms | $4,320 |
| 5 Bedrooms | $5,011 |
| 6 Bedrooms | $5,612 |
| 7 Bedrooms | $6,061 |
| 8 Bedrooms | $6,364 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,290 | $770,612 | 0.43% | F |
| 3BR | $3,920 | $801,166 | 0.49% | F |
| 4BR | $4,320 | $1,181,077 | 0.37% | F |
| 5BR | $5,011 | $1,431,671 | 0.35% | F |
U.S. Census Bureau data (2024)
The ZIP code 01748, located in Hopkinton, Massachusetts, has a population of 19,358 residents, with 13.3% being renters. This indicates that it is primarily a homeowner-dominated area rather than a renter-heavy zone. The median household income stands at $222,801, which is significantly higher than the national average.
The market rent for the area is $2,894 per month, representing approximately 13% of the median household income. In comparison, the Fair Market Rent (FMR) for FY 2024 is set at $3,070, indicating that the market rent is slightly below the FMR threshold. This suggests that while there is a demand for rental properties, the availability of Section 8 vouchers is likely to be limited due to the relatively high income levels of the area's residents.
To put this into perspective, let's consider the implications for landlords. With such a high median household income, the majority of potential tenants would not qualify for Section 8 vouchers. Instead, landlords can expect to attract tenants who are financially stable and capable of paying market rates without government assistance. These tenants are likely to have good credit scores and a history of timely rent payments, making them ideal for property owners seeking reliable occupants.
In conclusion, ZIP 01748 is not an area characterized by a deep voucher demand. The expected tenant profile consists of individuals or families with substantial financial resources, capable of handling a monthly rent of $2,894 without the need for subsidies. Landlords in this area should focus on attracting these financially secure tenants, as they represent the bulk of the rental market in Hopkinton.
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.