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 | $3,580 |
| 1 Bedroom | $3,700 |
| 2 Bedrooms | $4,420 |
| 3 Bedrooms | $5,270 |
| 4 Bedrooms | $5,810 |
| 5 Bedrooms | $6,740 |
| 6 Bedrooms | $7,549 |
| 7 Bedrooms | $8,153 |
| 8 Bedrooms | $8,561 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,700 | $628,435 | 0.59% | F |
| 2BR | $4,420 | $924,217 | 0.48% | F |
| 3BR | $5,270 | $1,405,109 | 0.38% | F |
| 4BR | $5,810 | $2,014,518 | 0.29% | F |
| 5BR | $6,740 | $2,918,265 | 0.23% | F |
U.S. Census Bureau data (2024)
The ZIP code 02446, located in Brookline, Massachusetts, presents a dynamic rental market characterized by a strong alignment between Fair Market Rent (FMR) and market rents, indicating a robust demand for rental properties. The FMR for ZIP 02446 is set at $4200 for fiscal year 2024, closely matching the Zillow Observed Rental Index (ZORI) of $3,942. This suggests that the rental market is healthy and reflective of broader economic conditions.
A key indicator of market health is the low price-cut share of 0.1%, which implies that landlords and property managers are not frequently lowering their asking prices to attract tenants. Additionally, the Days on Market (DOM) of 39 days is relatively short, further supporting the notion that rental properties are quickly occupied once listed. These factors collectively point towards a market where demand meets or slightly exceeds supply, creating a competitive environment for renters.
The median home value in ZIP 02446 stands at $1,113,358, reflecting the high cost of homeownership in the area. This high median home value, combined with the significant 62.2% renter share, underscores the substantial long-term housing pressure faced by residents. A majority of residents renting rather than owning homes indicates a challenging environment for potential buyers, likely due to the high cost of entry into the homeownership market. As a result, the rental market remains vibrant and essential for accommodating a large portion of the population.
In summary, ZIP 02446 operates under a balanced yet slightly demand-driven rental market, supported by fair rental prices and quick property turnover. The high renter share signals sustained pressure on housing affordability, favoring a continued reliance on rental options for many residents.
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.