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 | $2,130 |
| 1 Bedroom | $2,230 |
| 2 Bedrooms | $2,650 |
| 3 Bedrooms | $3,180 |
| 4 Bedrooms | $3,510 |
| 5 Bedrooms | $4,072 |
| 6 Bedrooms | $4,561 |
| 7 Bedrooms | $4,926 |
| 8 Bedrooms | $5,172 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,230 | $438,268 | 0.51% | F |
| 2BR | $2,650 | $777,494 | 0.34% | F |
| 3BR | $3,180 | $963,643 | 0.33% | F |
| 4BR | $3,510 | $1,174,046 | 0.3% | F |
| 5BR | $4,072 | $1,752,306 | 0.23% | F |
U.S. Census Bureau data (2024)
The ZIP code 01908, encompassing Nahant, MA, presents a dynamic rental market that is indicative of broader housing pressures. With a Fair Market Rent (FMR) set at $2,590 for the fiscal year 2024, it's clear that the rental market is robust and competitive. This figure, established by HUD, reflects the average rent for a two-bedroom apartment, which is significantly higher than the Census-reported market rent of $1,777. The discrepancy suggests that while there might be some affordable units available, the overall trend points towards a market where demand is strong.
The median home value of $951,485 further underscores the economic vitality of the area, indicating a substantial investment in property values. However, the lack of specific data on the percentage of price-cut shares and days on the market (DOM) makes it challenging to definitively conclude whether supply is outpacing demand or vice versa. Despite this, the high median home value implies a significant amount of capital tied into homeownership, which can indirectly affect the rental market by limiting the number of homes available for rent.
The 21.1% renter share highlights an ongoing and likely increasing housing pressure in the long term. A smaller proportion of renters compared to homeowners can signal a tight rental market, as fewer homes are being converted into rental properties. As the local economy continues to attract residents, this ratio suggests that the rental market will remain under pressure, with limited new supply to meet growing demand. Landlords and small-portfolio investors should prepare for sustained interest in their rental properties, ensuring they maintain competitive rents and conditions to attract tenants.
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.