Section 8 Fair Market Rent (FMR) for ZIP 02185 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,400
1 Bedroom	$2,480
2 Bedrooms	$2,960
3 Bedrooms	$3,530
4 Bedrooms	$3,890
5 Bedrooms	$4,512
6 Bedrooms	$5,053
7 Bedrooms	$5,457
8 Bedrooms	$5,730

Based on the available data, ZIP 02185, which is located in Braintree, MA, presents unique challenges and opportunities for both renters and landlords. The median household income in this area is not publicly disclosed, making it difficult to assess the overall financial capacity of residents. However, the market rate for rentals stands at $2,200 per month for a two-bedroom apartment, according to recent data from Realtor.com. The voucher payment standard for ZIP 02185 in fiscal year 2024 is set at $2,810, which exceeds the market rate of $2,200. This means that for landlords accepting vouchers, they will receive a higher monthly payment compared to the typical cash-paying renter. The disparity between the voucher payment standard and the market rate highlights a significant advantage for landlords who choose to participate in the voucher program. In terms of competition, approximately 40% of the households in ZIP 02185 are renters, indicating a substantial demand for rental properties. However, the affordability gap becomes evident when considering that the median income is unknown, yet the market rate for rent is already above average for many regions. This suggests that a portion of the renting population may struggle to pay market rates without assistance. For landlords, the takeaway is clear: accepting Section 8 vouchers can provide a steady and potentially higher income stream than relying solely on market-rate tenants. The voucher payment standard of $2,810 ensures a fixed rent amount that surpasses the current market rate, reducing the risk associated with vacancy periods and fluctuating rental prices. Additionally, participating in the voucher program can open up the rental pool to a wider audience, including those who might otherwise be unable to afford living in ZIP 02185 due to the high cost of living relative to undisclosed median incomes.

Landlords should consider the benefits of voucher programs, especially given the higher payment standard compared to the current market rate. While there is a significant number of renters in the area, the lack of disclosed median income figures underscores the importance of alternative payment sources such as vouchers to ensure tenant stability and financial security.

Data Sources: FMR data from HUD (2027).

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.