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 | $2,130 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,230 | $447,129 | 0.5% | F |
| 2BR | $2,650 | $526,760 | 0.5% | F |
| 3BR | $3,180 | $624,441 | 0.51% | F |
| 4BR | $3,510 | $727,911 | 0.48% | F |
| 5BR | $4,072 | $823,457 | 0.49% | F |
U.S. Census Bureau data (2024)
ZIP code 02119 in Boston, MA, is predominantly a renter-heavy area, with 73.5% of its population renting homes. This high percentage indicates a robust demand for rental properties, making it an attractive location for landlords and small-portfolio investors. The median household income in this ZIP is $48,488, which is crucial when considering the affordability of housing.
The typical market rent in 02119 stands at $3,757 per month. This figure represents approximately 96% of the median monthly income ($4,040) of the area's residents. Such a high rent-to-income ratio suggests that many tenants will find it challenging to afford market rates without assistance.
To provide context, the Fair Market Rent (FMR) for ZIP 02119, as set by HUD for FY 2024, is $2,380. This FMR is significantly lower than the market rent, indicating that tenants with Section 8 vouchers may struggle to find suitable units within the voucher limit. Landlords can expect to see a strong interest from tenants seeking affordable housing options, particularly those who rely on government assistance to meet their rental costs.
In summary, 02119 is characterized by a high concentration of renters and relatively high market rents compared to the median income. This makes it a prime location for Section 8 tenants looking for affordable housing. Landlords should anticipate a tenant pool that includes individuals and families heavily reliant on financial aid to cover living expenses, with a particular focus on those utilizing Section 8 vouchers to secure housing within their budget constraints.
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.