Location: Lawrence, 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 |
|---|---|---|---|---|
| 2BR | $2,650 | $868,023 | 0.31% | F |
| 3BR | $3,180 | $882,387 | 0.36% | F |
| 4BR | $3,510 | $1,121,337 | 0.31% | F |
| 5BR | $4,072 | $1,481,858 | 0.27% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 01921, which includes Boxford, Massachusetts, is set at $2,380 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the rent you'll receive; it's the cap on what the government will pay.
To put this into perspective, consider the average rent in Boxford, as reported by the U.S. Census Bureau's American Community Survey (ACS), which stands at $776. The FMR is significantly higher, reflecting the government's intention to cover a broader range of housing options, including those that might be considered above average in quality or size.
The 5.0% renter share indicates that a relatively small portion of the population in Boxford rents their homes, compared to owning them. Despite this low percentage, there are still opportunities for landlords who want to enter the Section 8 market. With an estimated total demand of approximately $1,064,856 annually based on the FMR and the number of potential renters, there is a substantial revenue opportunity for those willing to participate.
Before you decide to take the plunge into Section 8 rentals, verify that your property meets all the required standards for the program. This includes ensuring it passes the Housing Quality Standards (HQS) inspection, which checks for basic safety and livability conditions. Meeting these criteria is crucial for securing a contract and receiving timely payments.
In summary, the FMR of $2,380 for ZIP 01921 sets a high bar for the maximum rent allowed under Section 8, offering a good financial incentive for landlords. While the overall demand for rentals is lower than in many other areas, the potential earnings can be significant. Ensure your property is up to par with HQS requirements to avoid any complications once you're part of the program.
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.