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 | $2,490 |
| 1 Bedroom | $2,570 |
| 2 Bedrooms | $3,070 |
| 3 Bedrooms | $3,660 |
| 4 Bedrooms | $4,030 |
| 5 Bedrooms | $4,675 |
| 6 Bedrooms | $5,236 |
| 7 Bedrooms | $5,655 |
| 8 Bedrooms | $5,938 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,570 | $351,845 | 0.73% | D |
| 2BR | $3,070 | $513,142 | 0.6% | F |
| 3BR | $3,660 | $699,309 | 0.52% | F |
| 4BR | $4,030 | $824,182 | 0.49% | F |
| 5BR | $4,675 | $1,009,796 | 0.46% | F |
U.S. Census Bureau data (2024)
Quincy, ZIP code 02169, functions as a dense urban-suburban hybrid just south of Boston, characterized by a robust rental market and convenient coastal access. The neighborhood is anchored by significant transit infrastructure, most notably the Quincy Center station on the MBTA Red Line, which provides direct commuter access to downtown Boston. Local economic activity is bolstered by the presence of major employers such as Quincy Medical Center, which serves as a key institutional hub for the area.
Financially, the region presents a nuanced landscape for Section 8 investors. The HUD Fair Market Rent (FMR) for a 2-bedroom unit is currently $2,810, while the prevailing market rent sits at $2,661. This creates a positive spread of $149 in favor of voucher holders. With a median home value of $631,220 and properties moving off the market in a median of 31 days, the asset class demonstrates strong liquidity, though the high entry price point demands careful underwriting.
The tenant pool is substantial, driven by a 59.0% renter share and a median household income of $96,290. This income level suggests a population that can generally afford rents above the voucher threshold, potentially reducing the risk of rent defaults. Demand is further supported by the area’s amenities, including access to highly rated public schools like North Quincy High School and the pedestrian-friendly Quincy Center business district, which attracts long-term residents.
The Section 8 verdict for 02169 leans toward stability and appreciation rather than aggressive cash flow. The modest $149 premium over market rent does not offer a massive margin for error, yet the high median income and rapid 31-day days-on-market indicate a resilient environment. Investors should view this as a defensive play where the primary upside lies in property value appreciation and consistent occupancy rather than deep discounts to market rents.
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.