Location: Lowell, MA | Metro: Lowell, MA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,080 |
| 1 Bedroom | $2,290 |
| 2 Bedrooms | $2,980 |
| 3 Bedrooms | $3,600 |
| 4 Bedrooms | $3,920 |
| 5 Bedrooms | $4,547 |
| 6 Bedrooms | $5,093 |
| 7 Bedrooms | $5,500 |
| 8 Bedrooms | $5,775 |
The ZIP code 01822, located within the Lowell, MA HUD Metro Fair Market Rent (FMR) area, has a fair market rent of $2540 for fiscal year 2024. This figure is critical for landlords and small-portfolio investors who operate within the Section 8 program, which relies on HUD's FMR data to set payment standards.
To understand where 01822 stands relative to other ZIP codes in the Lowell, MA HUD Metro FMR Area, it's essential to consider the typical FMR values and other economic indicators of the region. However, the specific data for market rent, home values, and renter share percentages for ZIP 01822 are currently unavailable. Despite this limitation, we can still make informed inferences based on the available FMR data.
The FMR of $2540 suggests that 01822 could be either a mid-tier neighborhood or a value pocket within the metro, depending on how it compares to the broader Lowell, MA HUD Metro FMR Area. If the typical FMR for the metro area is higher, then 01822 would likely be considered a value pocket, offering lower rents while still benefiting from the broader economic conditions of the metro. Conversely, if the typical FMR is lower, 01822 might be seen as a premium sub-market, commanding higher rents due to unique characteristics such as proximity to employment centers, quality of schools, or amenities.
The absence of market rent and home value data for 01822 makes it challenging to draw definitive conclusions about its status within the metro. However, the lack of information on these metrics could indicate that 01822 is less developed or has a different economic profile compared to other ZIP codes in the area. A high renter share percentage in conjunction with below-average home values would typically signal a strong Section 8 presence, indicating a potential sweet spot for landlords seeking stable rental income through the program.
In summary, while ZIP 01822 has an FMR of $2540, which is a key piece of information for Section 8 landlords, the missing data on market rent, home values, and renter share percentages prevent a full assessment of its position within the Lowell, MA HUD Metro FMR Area. It could be a value pocket or a premium sub-market, but further data is needed to confirm this analysis.
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.