Section 8 Fair Market Rent (FMR) for ZIP 02059 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 02059 in Massachusetts for fiscal year 2024 is set at $2380. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you will receive; it's the payment standard used by the housing authority to determine the subsidy amount.

Local market rents in ZIP 02059 are currently listed as N/A, which makes direct comparison challenging. However, the FMR provides a benchmark for landlords to ensure they're not overcharging tenants who participate in the Section 8 program.

The percentage of renters in the area is N/A%, indicating the level of demand for rental properties. With such a significant portion of the population renting, there is likely strong interest in affordable housing options like those supported by Section 8 vouchers.

When acquiring a property in ZIP 02059, the median home value is listed as N/A, which gives an idea of the typical costs involved in purchasing real estate in this area. This information can help you assess whether the potential income from a Section 8 rental aligns with your investment goals.

Before proceeding with your first Section 8 rental, it's crucial to verify that the property meets all the required quality standards set by the housing authority. These standards, often referred to as Housing Quality Standards (HQS), must be met to qualify for the program. Ensure your property passes the HQS inspection to avoid delays or disqualification.

Data Sources: FMR data from HUD (2027).

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.