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 |
The Section 8 market analysis for ZIP code 02060 in the Boston-Cambridge-Quincy County area reveals several key points that landlords and small-portfolio investors should consider. The Fair Market Rent (FMR) set by HUD for this region in fiscal year 2024 is $2380. However, without specific market rent data, it's challenging to provide a direct comparison. Based on the available HUD FMR, voucher tenants would likely cashflow at the FMR rate, assuming the market rent is higher but not significantly so.
To further analyze the investment potential, we can look at the median home value. Unfortunately, the median home value is not provided, making it difficult to calculate an accurate rent-to-price ratio. This ratio is crucial for understanding the relative cost of renting versus buying in the area, which can influence both short-term cashflow and long-term appreciation prospects.
While the median days on market (DOM) and the percentage of price cuts are not specified, these metrics typically play a role in assessing the local real estate market's health and liquidity. In areas where DOM is high and price cuts are common, it might indicate slower sales and a need for more competitive pricing, which could affect rental rates and property values.
The strongest investor angle in ZIP 02060 appears to be stability. Given the lack of specific market rent data, the HUD FMR serves as a reliable benchmark for rental income. Stability in rental income is particularly important for Section 8 investors who rely on consistent government subsidies. Additionally, the location within the Boston metropolitan area suggests a robust and steady housing demand, which supports stable cashflows and property values over time.
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.