Location: Boston-Cambridge-Quincy, MA | Metro: Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 02047, which is located in Kent, KS, operate under the guidelines set by the federal government. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2024 is $2380. This figure is crucial because it directly influences the amount that a landlord can expect to receive from the Housing Choice Voucher program, commonly known as Section 8.
To understand what a voucher actually pays, you must factor in the tenant's portion of the rent and any utility allowances. Typically, the tenant is responsible for paying approximately 30% of their adjusted income towards rent. For example, if a tenant has an adjusted monthly income of $1500, they would contribute $450 to the rent. The remaining balance is covered by the voucher program, up to the SAFMR limit of $2380.
In addition to the base rent, there are utility allowances. These vary but are generally around $300-$400 per month. If we assume a utility allowance of $350, then the total reimbursement a landlord might receive is the tenant's contribution plus the voucher payment, not exceeding the $2380 SAFMR.
Given these specifics, let's calculate the typical reimbursement. If the tenant contributes $450 and the utility allowance is $350, the voucher program will cover the rest of the SAFMR. In this case, the voucher would pay $1580 ($2380 - $450 - $350). Therefore, the landlord receives a total of $2030 ($1580 + $450).
This calculation leaves a potential reimbursement gap. If the local market rent for a two-bedroom apartment is higher than the SAFMR, landlords will face a shortfall. However, since the local market rent data is currently unavailable, it's impossible to quantify the exact gap or surplus. Landlords should monitor local rental trends to determine if they will receive less than market value or if the SAFMR exceeds the typical rent in ZIP 02047.
Note that the SAFMR is set specifically for this ZIP code, meaning it reflects the rental costs unique to this area and does not apply uniformly across the county or metro area.
Data Sources: FMR data from HUD (2027). 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.