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 | $2,250 |
| 1 Bedroom | $2,320 |
| 2 Bedrooms | $2,770 |
| 3 Bedrooms | $3,300 |
| 4 Bedrooms | $3,640 |
| 5 Bedrooms | $4,222 |
| 6 Bedrooms | $4,729 |
| 7 Bedrooms | $5,107 |
| 8 Bedrooms | $5,362 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,320 | $401,524 | 0.58% | F |
| 2BR | $2,770 | $792,761 | 0.35% | F |
| 3BR | $3,300 | $1,204,644 | 0.27% | F |
| 4BR | $3,640 | $1,613,275 | 0.23% | F |
| 5BR | $4,222 | $2,384,527 | 0.18% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 02043, Hingham, Massachusetts, for fiscal year 2024 is set at $3170. This figure represents the payment standard for Section 8 housing vouchers, meaning it's the maximum amount that the Housing Choice Voucher Program will pay towards the rent of a property in this area. However, it does not dictate the rent you can charge your tenants.
Comparatively, the local Zillow Observed Rental Index (ZORI) for Hingham stands at $3284. This indicates that the market rent slightly exceeds the FMR, leaving some room for landlords to charge a bit more while still being covered by the voucher program up to $3170 per month. The difference between the ZORI and FMR suggests that landlords might need to subsidize the remaining amount if they aim to maximize their income from renting out properties.
The 19.3% renter share in Hingham highlights a significant portion of the population who rely on rental housing. This percentage reflects the demand for rental properties, including those supported by Section 8 vouchers. With a substantial number of renters, there is a considerable pool of potential tenants who could benefit from the Section 8 program.
In terms of acquisition costs, the total value of all properties in the ZIP code is approximately $1,304,967. This figure gives an idea of the overall investment required to enter the market as a landlord. While this number is indicative of the entire ZIP code, it helps understand the scale of investment needed to acquire a single property in this area.
Before proceeding with a Section 8 rental, ensure that your property meets the Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD). These standards cover a range of safety and habitability criteria that must be met for the property to be eligible for the program. Compliance with these standards is non-negotiable and essential for approval.
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.