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 |
|---|---|---|---|---|
| 1BR | $2,230 | $341,278 | 0.65% | D |
| 2BR | $2,650 | $588,735 | 0.45% | F |
| 3BR | $3,180 | $675,425 | 0.47% | F |
| 4BR | $3,510 | $941,683 | 0.37% | F |
| 5BR | $4,072 | $1,072,965 | 0.38% | F |
U.S. Census Bureau data (2024)
The ZIP code 02035, located in Foxborough, MA, represents a moderate renter-heavy area with a population of 18,615 individuals. With 26.3% of residents being renters, it suggests a significant but not overwhelming demand for rental properties. The median household income stands at $115,833, which is notably high compared to many other areas in the United States.
The market rent for the area is currently set at $2,772 per month. This figure represents approximately 24% of the median household income, indicating that rent is a substantial portion of income for many households. However, the Fair Market Rent (FMR) for Foxborough, MA, is slightly lower at $2,460 per month for FY 2024, suggesting that landlords who price their rentals closer to the FMR might attract a larger share of Section 8 tenants.
To determine whether this is an area with deep voucher demand, we must consider the balance between the number of renters and the availability of affordable housing options. Given the relatively high median income and the fact that only a quarter of the population rents, it's likely that the demand for Section 8 vouchers is less intense compared to more renter-heavy areas with lower incomes. Landlords should be aware that while there is a presence of Section 8 tenants, the overall pool is smaller due to the higher cost of living and preference for homeownership.
A landlord in Foxborough can expect a tenant profile that includes a mix of families and individuals seeking affordable housing options. These tenants will have an annual income below 50% of the area median income, which for Foxborough would be under $57,915. They will rely on the Housing Choice Voucher program to cover a portion of their rent, typically up to $2,460 per month, leaving them responsible for any amount above that towards the $2,772 market rent.
In conclusion, while ZIP 02035 has a sizeable renter population, the overall income levels suggest that landlords should prepare for a smaller pool of Section 8 tenants. The expectation is for tenants who are financially constrained but still part of a relatively affluent community, making it important for landlords to ensure their properties meet the standards required for voucher acceptance.
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.