Section 8 Fair Market Rent (FMR) for ZIP 01832 - 2027
Location: Lawrence, MA | Metro: Lawrence, MA-NH HUD Metro FMR Area
Investment Score for ZIP 01832
F
Monthly Rent (2BR)
$2,300
Median Price (2BR)
$415,555
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,630 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $2,300 |
| 3 Bedrooms | $2,740 |
| 4 Bedrooms | $3,020 |
| 5 Bedrooms | $3,503 |
| 6 Bedrooms | $3,923 |
| 7 Bedrooms | $4,237 |
| 8 Bedrooms | $4,449 |
Investment Analysis by Bedroom Size
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms |
Monthly FMR |
Median Price |
1% Rule |
Grade |
| 1BR |
$1,760 |
$279,222 |
0.63% |
D |
| 2BR |
$2,300 |
$415,555 |
0.55% |
F |
| 3BR |
$2,740 |
$587,756 |
0.47% |
F |
| 4BR |
$3,020 |
$739,652 |
0.41% |
F |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$83,041
To determine if you should buy in ZIP code 01832 (Haverhill, MA) for Section 8 purposes, follow this decision tree:
- Does FMR $1890 (zip FY 2024) clear debt service on a $519,808 property?
- Yes. If your debt service payments are less than $1890 per month, then the Fair Market Rent (FMR) covers these costs. This makes the property financially viable for Section 8 tenants.
- No. If your debt service exceeds $1890 monthly, the FMR does not cover your costs. Proceeding would require additional income sources or reducing expenses.
- Is market rent $2,091 (ZORI) above, at, or below FMR?
- Above. The Zillow Rent Index (ZORI) at $2,091 is higher than the FMR of $1890. Landlords can potentially charge higher rents to non-Section 8 tenants, but must consider the FMR cap for Section 8 vouchers.
- At. Not applicable since the ZORI is above the FMR.
- Below. Not applicable since the ZORI is above the FMR.
- Are 38.9% renters + N/A-day DOM enough demand?
- Yes. With 38.9% of residents being renters, there is a significant demand for rental properties. However, the lack of data on days on market (DOM) makes it hard to gauge how quickly properties are rented. Assume that a substantial portion of the rental demand could be met by Section 8 tenants, especially if local voucher usage is high.
- No. If the percentage of renters were lower, or if the DOM indicated slow leasing times, demand might not support a Section 8 investment.
- It depends. Given the limited DOM data, the viability hinges on other factors such as the local economy, job growth, and competition. A deeper analysis of these elements is necessary to confirm whether the demand is sufficient for a Section 8 property.
In summary, if the debt service is covered by the FMR and you can leverage the higher market rent for non-voucher tenants, the investment is sound. The renter population suggests sufficient demand, though more detailed market analysis is recommended.
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.