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 | $720,485 | 0.37% | F |
| 3BR | $3,180 | $931,816 | 0.34% | F |
| 4BR | $3,510 | $1,233,673 | 0.28% | F |
| 5BR | $4,072 | $1,740,221 | 0.23% | F |
U.S. Census Bureau data (2024)
2380 - The Fair Market Rent (FMR) for ZIP code 01984, Wenham, MA, as set for fiscal year 2024, stands at $2380 per month. This figure is critical for landlords participating in the Section 8 program, as it dictates the maximum allowable rental amount for eligible units.
1056783 - With a median home value of $1,056,783, Wenham presents a premium real estate market. This high valuation suggests that homes in this area are likely to command higher rents, aligning well with the FMR when considering property investments.
14.3 - Only 14.3% of residents in Wenham are renters, indicating a lower demand for rental properties compared to other areas. However, the premium nature of the housing market can still support robust rental income for those willing to invest.
194781 - The median household income in Wenham is $194,781, which is significantly above the national average. This affluence means that many residents could afford higher rents, potentially allowing landlords to charge closer to the FMR without difficulty.
In Wenham, the lack of specific data on market rent and days on market (DOM) indicates either a stable rental market where properties are quickly leased or a limited number of rental transactions. Similarly, the absence of data regarding the percentage of price-cut share suggests that there is little need for landlords to reduce their asking prices to attract tenants.
Given the affluent demographic and the high median home values, landlords in Wenham can expect steady demand for quality rental properties. Participation in the Section 8 program can be particularly lucrative due to the alignment between the FMR and the local rental market's capacity to bear these rates.
Verdict: Wenham, MA, is a viable market for Section 8 investment, provided properties meet the necessary standards and the landlord is prepared to navigate the program's regulations.
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.