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 | $485,859 | 0.46% | F |
| 2BR | $2,650 | $731,792 | 0.36% | F |
| 3BR | $3,180 | $918,772 | 0.35% | F |
| 4BR | $3,510 | $1,137,567 | 0.31% | F |
| 5BR | $4,072 | $1,594,532 | 0.26% | F |
U.S. Census Bureau data (2024)
ZIP code 01966, located in Rockport, Massachusetts, falls within the broader Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area. To analyze its position relative to other ZIP codes in this metro area, we can examine several key metrics: Fair Market Rent (FMR), market rent, home value, and renter share.
The Fair Market Rent for ZIP 01966 is set at $2,500 for fiscal year 2024. This figure is typically higher than the actual market rent, which stands at $1,851. The discrepancy between FMR and market rent suggests that 01966 could be considered a value pocket within the metro area, offering rental properties at a lower cost compared to what is deemed fair by HUD standards.
The median home value in 01966 is $858,714. While this is a significant amount, it is important to note that it is below the average home value in the Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, indicating that it is not a premium sub-market in terms of property prices. This lower home value can be attractive for investors looking for opportunities outside the most expensive neighborhoods in the metro.
The renter share in ZIP 01966 is 31.7%, which is slightly above the typical share for many ZIP codes in the Boston metro area. A higher-than-average renter share combined with below-average home values can signal a favorable environment for Section 8 housing programs. Landlords in this area might find it easier to secure tenants through the Section 8 program due to the relatively affordable rents and a larger proportion of residents seeking subsidized housing options.
In summary, ZIP 01966 presents itself as a value pocket within the Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area. It offers rental rates that are significantly lower than the HUD Fair Market Rent, making it an attractive option for investors interested in Section 8 properties. Additionally, the combination of a higher-than-average renter share and below-average home values suggests a strong potential for success with Section 8 tenancy.
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.