Section 8 Fair Market Rent (FMR) for ZIP 02065 - 2027
Location: Boston-Cambridge-Quincy, MA | Metro: Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| 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 |
To decide whether you should buy in ZIP 02065 (Unknown, MA) for Section 8, follow these steps:
- Step 1: Debt Service Coverage
- If the Fair Market Rent (FMR) of $2380 for fiscal year 2024 does not cover your debt service on the property, the answer is No. You cannot afford to maintain the property if the rental income does not meet your financial obligations.
- If the FMR of $2380 does cover your debt service, proceed to Step 2.
- Step 2: Market Rent Comparison
- If the market rent is above $2380, you can potentially earn more from renting the property without Section 8 tenants. The answer is It Depends, as you might consider whether the additional administrative burden of Section 8 outweighs the benefits of lower market rents.
- If the market rent is exactly $2380, the FMR matches the market conditions, making Section 8 a viable option. The answer is Yes.
- If the market rent is below $2380, Section 8 provides a guaranteed income floor that is higher than what the market offers. The answer is Yes.
- Step 3: Demand Assessment
- If the percentage of renters in the area and the days on market (DOM) indicate sufficient demand for rental properties, then you can confidently move forward with purchasing a property for Section 8. The answer is Yes.
- If there is insufficient demand, meaning the percentage of renters is low and the DOM is high, the answer is No. There would not be enough tenants interested in renting the property to make it a worthwhile investment.
Note: Specific percentages and DOM values were not provided, so precise assessment requires those details. However, the framework remains consistent regardless of the exact figures.
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.