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 | $3,660 |
| 1 Bedroom | $3,770 |
| 2 Bedrooms | $4,510 |
| 3 Bedrooms | $5,370 |
| 4 Bedrooms | $5,930 |
| 5 Bedrooms | $6,879 |
| 6 Bedrooms | $7,704 |
| 7 Bedrooms | $8,320 |
| 8 Bedrooms | $8,736 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,770 | $922,363 | 0.41% | F |
| 2BR | $4,510 | $1,867,805 | 0.24% | F |
| 3BR | $5,370 | $3,678,953 | 0.15% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 02110, located in the Boston-Cambridge-Quincy, MA-NH HUD Metro FMR area, does not work favorably for landlords. The Fair Market Rent (FMR) for FY 2024 is set at $4240, while the market rent, as measured by ZORI, stands at $5000. This discrepancy means that landlords who rely on Section 8 vouchers will have to accept a lower rent compared to the market rate, reducing their potential income by $760 per unit.
Acquisition of properties in this ZIP code is not particularly affordable. With a median home value of $1,419,119, the cost of entry into the real estate market is high. The lack of available data on days on market (DOM) and the low percentage of homes experiencing price cuts (0.1%) suggest that the housing market is robust and not easily negotiable for lower prices. This makes it challenging for small-portfolio investors to acquire properties without significant capital investment.
Tenant demand in ZIP 02110 is strong. The population of 2,342 residents includes a substantial 30.4% who are renters. Given the high median home value and the likely presence of young professionals, students, and others who prefer renting, there is a consistent need for rental properties. However, the competition for tenants is fierce due to the high cost of living and the attractiveness of the area.
Verdict: ZIP 02110 presents a challenging environment for landlords and small-portfolio investors. The disparity between the FMR and market rent means reduced income when relying on Section 8 vouchers. High median home values and limited price negotiations make property acquisition costly. Despite these challenges, the strong tenant demand ensures that well-managed rental properties can still find occupants. However, the financial viability hinges on the ability to secure higher-paying tenants outside of Section 8 programs.
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.