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 | $449,795 | 0.59% | F |
| 3BR | $3,180 | $535,793 | 0.59% | F |
| 4BR | $3,510 | $711,094 | 0.49% | F |
| 5BR | $4,072 | $719,593 | 0.57% | F |
U.S. Census Bureau data (2024)
ZIP 02019, located in Bellingham, MA, within the Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, serves as a strong cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for ZIP 02019 in fiscal year 2024 is set at $2580, which exceeds the current market average rent of $2536. This positive spread ensures that landlords participating in the Section 8 program can maintain steady and reliable cash flows.
The median home value in ZIP 02019 stands at $538,218, indicating a relatively stable and affluent neighborhood. While this high median home value might suggest limited appreciation potential, the focus on cash flow makes it an ideal choice for those seeking consistent rental income.
The 0.2% price-cut share and N/A-day Days on Market (DOM) metrics highlight that there is minimal competition among landlords in terms of lowering rents to attract tenants. This suggests a robust demand for rental properties without the need for aggressive pricing strategies, further supporting the cash-flow anchor role.
With a renter share of 21.1%, ZIP 02019 also offers diversification benefits. However, given the high median income of $125,307, the primary benefit here remains the stability and predictability of cash flows rather than the potential for rapid appreciation.
In summary, ZIP 02019 is best suited as a cash-flow anchor within a Section 8 portfolio due to its favorable rent-to-FMR ratio and the absence of significant price-cutting competition. Landlords can expect solid, dependable returns without the volatility associated with areas focused purely on capital appreciation.
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.