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 | $416,745 | 0.54% | F |
| 2BR | $2,650 | $618,943 | 0.43% | F |
| 3BR | $3,180 | $799,436 | 0.4% | F |
| 4BR | $3,510 | $1,065,147 | 0.33% | F |
| 5BR | $4,072 | $1,900,051 | 0.21% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 01930 (Gloucester, MA) does not work favorably for landlords. The Fair Market Rent (FMR) set at $2380 for the fiscal year 2024 is below the market rent, which stands at $2,660 according to ZORI. This means that landlords who rely on FMR subsidies will receive less than what the market demands, resulting in a financial disadvantage.
Acquisition in this area is moderately affordable. With a median home value of $760,869, purchasing a property here is feasible but requires careful consideration of the investment. However, the lack of data on days on market (DOM) and the low price-cut share of 0.1% indicate that the housing market is stable and homes do not typically need to be discounted or remain unsold for extended periods.
Tenant demand is strong in ZIP 01930. The population of 30,075 includes a significant 36.1% renter share, suggesting a healthy pool of potential tenants. This high percentage of renters supports the viability of rental properties in the area.
Overall, while the rent math presents a challenge due to the gap between FMR and market rents, the acquisition costs and tenant demand remain favorable. Landlords and small-portfolio investors should consider these factors carefully and weigh the benefits of a stable housing market and strong tenant base against the lower FMR subsidy rates.
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.