Section 8 Fair Market Rent (FMR) for ZIP 01826 - 2027
Location: Lowell, MA | Metro: Lawrence, MA-NH HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,660 |
| 1 Bedroom | $1,840 |
| 2 Bedrooms | $2,390 |
| 3 Bedrooms | $2,890 |
| 4 Bedrooms | $3,140 |
| 5 Bedrooms | $3,642 |
| 6 Bedrooms | $4,079 |
| 7 Bedrooms | $4,405 |
| 8 Bedrooms | $4,625 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$114,196
Housing Authorities Serving ZIP 01826
- Cambridge Housing Authority (Cambridge, MA) - 7,597 Section 8 vouchers
- Lynn Housing Authority (Lynn, MA) - 1,566 Section 8 vouchers
- Lowell Housing Authority (Lowell, MA) - 1,405 Section 8 vouchers
- Salem Housing Authority (Salem, MA) - 1,383 Section 8 vouchers
- Somerville Housing Authority (Somerville, MA) - 1,358 Section 8 vouchers
- Medford Housing Authority (Medford, MA) - 1,194 Section 8 vouchers
- Framingham Housing Authority (Framingham, MA) - 1,065 Section 8 vouchers
- Lawrence Housing Authority (Lawrence, MA) - 1,031 Section 8 vouchers
- Malden Housing Authority (Malden, MA) - 983 Section 8 vouchers
- Chelmsford Housing Authority (Chelmsford, MA) - 891 Section 8 vouchers
The town of Dracut, located in Middlesex County, Massachusetts, offers a blend of suburban living and proximity to urban amenities. Situated near major cities such as Lowell and just north of Boston, it attracts residents seeking a quieter lifestyle without sacrificing convenience. The local real estate market reflects this balance, offering opportunities for both homeowners and renters.
- The Fair Market Rent (FMR) for a two-bedroom apartment in Dracut for fiscal year 2024 is set at $1,990. This figure serves as a benchmark for rental pricing in subsidized housing programs.
- The Zillow Observed Rental Index (ZORI) indicates that the average market rent for a two-bedroom apartment in Dracut is currently $2,321. This suggests that the market is slightly above the FMR, providing a modest margin for landlords.
- The median home value in Dracut stands at $570,656, reflecting a stable and somewhat affluent residential market.
- Renters make up 20.2% of the total population, indicating a significant but not overwhelming demand for rental properties.
- The days on market (DOM) for rental listings is 7 days, which is quite low, suggesting a quick turnover rate and high demand for available units.
- The median household income in Dracut is $114,196, providing a strong economic foundation for the local rental market.
In summary, Dracut's real estate market presents a favorable environment for landlords and small-portfolio investors. With a median income well above the national average and a moderate renter share, there is a solid demand for rental properties. The low DOM indicates that listings are quickly filled, reducing vacancy risks. Although the market rent is slightly higher than the FMR, it remains accessible for many potential tenants, ensuring steady occupancy rates and reasonable returns on investment.
Data Sources: FMR data from HUD (2027). 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.