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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,650 | $630,958 | 0.42% | F |
| 3BR | $3,180 | $803,752 | 0.4% | F |
| 4BR | $3,510 | $1,099,659 | 0.32% | F |
| 5BR | $4,072 | $1,619,147 | 0.25% | F |
U.S. Census Bureau data (2024)
The ZIP code 01982, located in Hamilton, MA, has a population of 7,680 residents. Among them, 15.2% are renters, indicating that this is primarily a homeowner-dominated area rather than a renter-heavy zone. The median household income stands at $132,571, which is significantly higher than the national average.
The market rent for the area is $1,794 per month. Given the median income level, typical rent eats up approximately 13.5% of the local income. This figure is calculated by dividing the market rent by the annual median income and multiplying by 12 months. In comparison, the Fair Market Rent (FMR) for ZIP 01982 is set at $2,380 for FY 2024, suggesting that the actual market rent is below the FMR threshold.
The lower percentage of renters implies that there may be less demand for housing vouchers within this ZIP code. Landlords should anticipate tenants who can afford the market rent without assistance, as the majority of residents are likely homeowners with stable financial situations. However, those seeking to utilize Section 8 vouchers would find their monthly payments of $1,794 to be well below the FMR, potentially making it easier for voucher holders to secure housing in this area.
To summarize, landlords in ZIP 01982 should expect a tenant pool that is financially capable of meeting market rents, with a smaller subset relying on housing vouchers. The relatively low rent-to-income ratio makes the area attractive for both voucher holders and independent renters, although the latter group will likely dominate due to the high median income and strong preference for homeownership among residents.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.