Location: Boston-Cambridge-Quincy, MA | Metro: Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,470 |
| 1 Bedroom | $2,550 |
| 2 Bedrooms | $3,050 |
| 3 Bedrooms | $3,630 |
| 4 Bedrooms | $4,010 |
| 5 Bedrooms | $4,652 |
| 6 Bedrooms | $5,210 |
| 7 Bedrooms | $5,627 |
| 8 Bedrooms | $5,908 |
The ZIP code 01784 in Massachusetts lacks comprehensive demographic data, including population size, percentage of renters, and median household income. However, we can still analyze the potential for Section 8 tenants based on the available information.
To understand the demand for rental properties, it's essential to look at the percentage of renters. Unfortunately, the exact figure is not provided, making it challenging to determine if the area is renter-heavy or dominated by homeowners. This absence of data suggests that further research might be necessary to accurately gauge the local rental market dynamics.
The comparison between local market rents and the Fair Market Rent (FMR) set by HUD can offer insights into affordability. The FMR for ZIP 01784 is $2870 (FY 2024), which serves as a benchmark for what landlords can charge for federally subsidized housing. Without specific local market rent figures, we cannot calculate the exact percentage of income consumed by rent. However, it's important to note that tenants relying on Section 8 vouchers typically have a lower income level, which means they are sensitive to rent costs and will likely seek properties below or close to the FMR.
A landlord in ZIP 01784 should anticipate tenants who qualify for Section 8 vouchers, given the area's eligibility for federal housing assistance. These tenants are usually low-income families, individuals, or those with disabilities who require financial aid to afford housing. Landlords must ensure their properties meet the quality standards required by the Section 8 program and be prepared to work with the local housing authority to manage the rental process.
In summary, while specific income and renter percentages are unavailable, the presence of Section 8 vouchers indicates a need for affordable housing. Landlords should expect to deal with tenants who rely on government subsidies and prepare accordingly. The FMR of $2870 provides a guideline for setting competitive yet affordable rent prices.
Data Sources: FMR data from HUD (2027).
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.