Location: Boston-Cambridge-Quincy, MA | Metro: Barnstable Town, MA MSA
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 | $417,652 | 0.53% | F |
| 2BR | $2,650 | $581,972 | 0.46% | F |
| 3BR | $3,180 | $659,071 | 0.48% | F |
| 4BR | $3,510 | $771,886 | 0.45% | F |
| 5BR | $4,072 | $924,320 | 0.44% | F |
U.S. Census Bureau data (2024)
Plymouth, ZIP code 02360, functions as a historic coastal hub rather than a pure bedroom community, offering a blend of tourism-driven commerce and suburban stability. The area is defined by its waterfront access and deep colonial roots, attracting families who value space over a rapid downtown Boston commute. Local employment is anchored by major institutions such as Jordan Hospital, part of the Beth Israel Lahey Health system, which provides a steady base of medical professionals needing housing. This infrastructure supports a neighborhood character that is generally quiet but seasonally vibrant, particularly near the harbor and landmarks like Plymouth Rock.
From a strictly numerical standpoint, Plymouth 02360 presents a challenging cash-flow environment for Section 8 investors. The FY2024 HUD SAFMR for a 2-bedroom unit is $2,450, but current market rents (Zillow ZORI) have climbed to $2,767, creating a negative gap of $317 per month between program limits and market reality. To hit the top of the local voucher bracket, you must look toward the FY2026 Full FMR ladder, where a 3BR unit caps at $3,080. Asset values are high, with a median home value of $641,608 and a median 2BR sale price of $566,473, while properties move relatively slowly with a median of 43 days on market.
Despite the tight margins, the tenant pool remains compelling due to the area's socioeconomic profile. The renter share is just 21.0%, indicating a majority homeowner population, yet the median household income is a robust $116,941. This high income level correlates with strong demand for quality rentals, particularly from families drawn to top-rated schools like Plymouth North High School and the recreational amenities along the Long Pond chain. These features attract voucher holders who meet strict income screening criteria and often prioritize long-term stability in a safe, amenity-rich environment.
The Section 8 verdict for 02360 leans toward stability and appreciation rather than immediate, aggressive cash flow. Because the market rent exceeds the 2BR SAFMR by $317, investors should target larger 3- or 4-bedroom units where the FY2026 FMRs of $3,080 and $3,390 respectively offer better alignment with the market. With high home values and a tenant base supported by institutional employers and reputable schools, the play here is banking on asset quality and tenant retention to bridge the gap between voucher limits and carrying costs.
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.