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 | $2,430 |
| 1 Bedroom | $2,500 |
| 2 Bedrooms | $2,990 |
| 3 Bedrooms | $3,560 |
| 4 Bedrooms | $3,930 |
| 5 Bedrooms | $4,559 |
| 6 Bedrooms | $5,106 |
| 7 Bedrooms | $5,514 |
| 8 Bedrooms | $5,790 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,500 | $308,473 | 0.81% | C |
| 2BR | $2,990 | $595,960 | 0.5% | F |
| 3BR | $3,560 | $857,226 | 0.42% | F |
| 4BR | $3,930 | $1,151,800 | 0.34% | F |
| 5BR | $4,559 | $1,466,864 | 0.31% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 01760, Natick, Massachusetts, is set at $2,740 for fiscal year 2024. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for Section 8 housing assistance, but it's important to note that this is not necessarily the amount you will receive as rent from tenants. Instead, it's the maximum amount HUD allows for rental payments under the Section 8 program.
To compare, the Zero Out-of-Pocket Income (ZORI) for the area, which is the median renter income needed to afford a typical home without spending more than 30% of their income on housing, is currently at $2,679. This suggests that the FMR is slightly higher than what the average renter can afford, which could be advantageous if you're looking to secure a steady income stream through the Section 8 program.
The renter share in Natick is 31.9%, indicating that about one-third of the population are renters. This statistic points to a significant demand for rental properties, especially those that qualify for Section 8 assistance. With a high renter share, there's a good likelihood that your property will be occupied, reducing the risk of vacancy.
If you're considering purchasing a property for your first Section 8 rental, the median listing price in the area is around $890,079. This figure represents the typical acquisition cost for a property in Natick, which you should factor into your investment analysis. Remember, the actual rent you receive from Section 8 tenants might be less than the FMR, depending on the tenant's income and the subsidy structure.
Before finalizing your decision, verify that the property meets all local and federal requirements for Section 8 eligibility. This includes ensuring that the rent is within the FMR limits and that the unit passes inspection standards for health and safety. Once confirmed, you can proceed with confidence, knowing that your investment aligns with both the local market and the needs of Section 8 participants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.