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 | $687,369 | 0.39% | F |
| 3BR | $3,180 | $704,611 | 0.45% | F |
| 4BR | $3,510 | $949,807 | 0.37% | F |
| 5BR | $4,072 | $1,261,717 | 0.32% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 02056, which encompasses Norfolk, MA, in Norfolk County, operate under specific financial guidelines that landlords need to understand. For fiscal year 2024, the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $2380. This SAFMR figure is crucial because it is the maximum amount that the Section 8 program will pay for a two-bedroom unit in this specific ZIP code.
Local market rents, according to Census ACS data, run at an average of $2,019 for a two-bedroom apartment. This means that the SAFMR is slightly above the market rent, which can be beneficial for landlords who participate in the program. However, the actual reimbursement to landlords depends on the tenant's portion of the rent and any utility allowances.
A Section 8 voucher holder typically pays 30% of their adjusted income toward rent. If we assume an average adjusted income of $1,587 (which would result in a tenant payment of approximately $476), the remaining balance would be covered by the Section 8 program. The program's reimbursement is capped at the SAFMR of $2380, but it does not exceed this limit even if the tenant's portion is lower.
In addition to the base rent, the Section 8 program also provides utility allowances. For ZIP 02056, the utility allowance for a two-bedroom unit is $300. Therefore, the total reimbursement from the program would be $2380 for rent plus $300 for utilities, equaling $2680 per month.
To walk through a practical example, if a landlord charges $2380 for rent and includes utilities, the tenant would pay $476, and the program would cover the rest, including the utility allowance. If the landlord's rent is higher than $2380, the excess must be paid by the tenant, which could make the property unaffordable under the program.
If the landlord sets the rent at $2019, the reimbursement from the program would still be $2380, meaning the landlord would receive the full market rent plus an additional $361 per month as a surplus. This surplus is due to the SAFMR being higher than the local market rent, providing a buffer for landlords.
However, if the landlord charges more than $2380, the tenant must cover the difference between the actual rent and the SAFMR. In this case, there would be a reimbursement gap, where the landlord does not receive the full rent amount from the Section 8 program and must rely on the tenant to make up the shortfall.
In summary, for a two-bedroom unit in ZIP 02056, landlords should expect a reimbursement of $2380 for rent and $300 for utilities, totaling $2680 per month. Given the local market rent of $2019, landlords participating in the Section 8 program can anticipate a surplus of $661 per month, assuming they charge no more than the SAFMR.
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.