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 | $2,320 |
| 1 Bedroom | $2,390 |
| 2 Bedrooms | $2,860 |
| 3 Bedrooms | $3,410 |
| 4 Bedrooms | $3,760 |
| 5 Bedrooms | $4,362 |
| 6 Bedrooms | $4,885 |
| 7 Bedrooms | $5,276 |
| 8 Bedrooms | $5,540 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,390 | $431,723 | 0.55% | F |
| 2BR | $2,860 | $547,928 | 0.52% | F |
| 3BR | $3,410 | $728,398 | 0.47% | F |
| 4BR | $3,760 | $891,910 | 0.42% | F |
| 5BR | $4,362 | $1,011,577 | 0.43% | F |
U.S. Census Bureau data (2024)
The ZIP code 02184, located in Braintree, MA, presents an interesting scenario for both renters and landlords. With a median household income of $122,214, it might seem that residents have the financial capability to meet the market-rate rental cost of $2,983. However, when considering the Federal Market Rent (FMR) standard for voucher payments, which stands at $2,740 for the fiscal year 2024, the situation becomes more nuanced.
The difference between the market rate and the FMR standard is indicative of the affordability gap in the area. This gap suggests that while some households can afford the higher market rates, others may find it challenging without the assistance of housing vouchers. Given that only 22.4% of the population are renters and the total population is 38,899, the competition among landlords for tenants willing and able to pay the market rate could be fierce.
For landlords, understanding this dynamic is crucial. Those who accept housing vouchers can tap into a segment of the market that may not otherwise be able to afford living in Braintree. By doing so, they ensure a steady stream of tenants and potentially avoid vacancies. On the other hand, focusing on cash-paying tenants allows landlords to command higher rents, but they must be prepared to compete with other property owners for these financially stable tenants.
The takeaway for landlords is clear: accepting housing vouchers can be a strategic move to attract a broader range of tenants and maintain occupancy levels. However, if the goal is to maximize rental income, targeting cash-paying tenants is the way to go, though this comes with the risk of increased competition and possibly longer vacancy periods.
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.