Section 8 Fair Market Rent (FMR) for ZIP 02171 - 2027

Location: Boston-Cambridge-Quincy, MA | Metro: Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area

Investment Score for ZIP 02171

Monthly Rent (2BR)

$3,170

Median Price (2BR)

$622,314

1% Rule

0.51%

Annual Yield

6.11%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,570
1 Bedroom	$2,650
2 Bedrooms	$3,170
3 Bedrooms	$3,780
4 Bedrooms	$4,170
5 Bedrooms	$4,837
6 Bedrooms	$5,417
7 Bedrooms	$5,850
8 Bedrooms	$6,143

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$2,650	$364,307	0.73%	D
2BR	$3,170	$622,314	0.51%	F
3BR	$3,780	$773,850	0.49%	F
4BR	$4,170	$897,522	0.46%	F
5BR	$4,837	$986,407	0.49%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

20,164

Median Household Income

$106,885

Housing Units

9,487

Renter Percentage

47.9%

Occupancy Rate

93.7%

Renter Occupied

4,253

Quincy, Massachusetts, represented by ZIP code 02171, is a vibrant suburban community located just south of Boston. Known for its strong sense of community and diverse housing options, Quincy offers both rental opportunities and homeownership prospects. The following analysis provides key metrics that can guide real estate investment decisions in this area.

The Fair Market Rent (FMR) for ZIP 02171 for fiscal year 2024 is set at $2,840, indicating the average monthly rent cost for a two-bedroom apartment.
The Zillow Observed Rent Index (ZORI) for the area currently stands at $2,826, which reflects the typical market rent for a two-bedroom property.
The median home value in Quincy is $707,591, suggesting a robust real estate market with significant equity potential for homeowners.
Renters make up 47.9% of Quincy's population, highlighting a substantial demand for rental properties.
The median household income in Quincy is $106,885, indicating a relatively affluent community capable of supporting higher rents and property values.

The data points above paint a picture of a balanced real estate market in Quincy. With a nearly even split between renters and homeowners, there is considerable opportunity for both types of investments. The close alignment between the FMR and ZORI suggests a stable rental market, while the high median home value and income levels indicate strong potential for appreciation in property values. For investors, focusing on rental properties could be particularly lucrative given the high renter share and stable rent prices, though homeownership also presents solid long-term gains due to the area's affluence and property value trends.

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.