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 | $2,920 |
| 1 Bedroom | $3,010 |
| 2 Bedrooms | $3,600 |
| 3 Bedrooms | $4,290 |
| 4 Bedrooms | $4,730 |
| 5 Bedrooms | $5,487 |
| 6 Bedrooms | $6,145 |
| 7 Bedrooms | $6,637 |
| 8 Bedrooms | $6,969 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,010 | $683,580 | 0.44% | F |
| 2BR | $3,600 | $1,153,555 | 0.31% | F |
| 3BR | $4,290 | $2,448,207 | 0.18% | F |
U.S. Census Bureau data (2024)
The potential risks for investing in Section 8 properties in ZIP 02115, Boston, MA, must be carefully considered. Tenant turnover is a significant concern, as the market rent stands at $3,627, which is notably higher than the $3,000 Fair Market Rent (FMR) for FY 2024. This disparity suggests that tenants may struggle to afford the full rent, leading to frequent turnover and instability.
Vacancy exposure is another critical issue. The Days on Market (DOM) data is not available, indicating uncertainty about how quickly units can be rented out. In a competitive rental market, this lack of information can be particularly problematic, as it may result in extended periods of vacancy and lost revenue.
Deferred maintenance is also a risk factor, especially considering the typical home value of $944,736 and the median income of $54,991. Landlords should expect that tenants receiving Section 8 vouchers might not have additional funds to cover maintenance costs, leading to potential neglect of property upkeep.
However, these risks are mitigated by the high renter share of 85.4%. A high concentration of renters typically translates into a robust demand for housing vouchers, ensuring a steady pool of potential tenants. This high demand can provide a stable source of rental income for landlords willing to navigate the challenges associated with Section 8 properties.
Verdict: Moderate risk for a first-time Section 8 landlord.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.