Location: Boston-Cambridge-Quincy, MA | Metro: Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,470 |
| 1 Bedroom | $2,550 |
| 2 Bedrooms | $3,050 |
| 3 Bedrooms | $3,630 |
| 4 Bedrooms | $4,010 |
| 5 Bedrooms | $4,652 |
| 6 Bedrooms | $5,210 |
| 7 Bedrooms | $5,627 |
| 8 Bedrooms | $5,908 |
The analysis of ZIP code 02455 within the Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area reveals several critical points for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 02455 in fiscal year 2024 is set at $2870. However, the absence of specific market rent data makes it challenging to compare directly. Without a benchmark, it's difficult to determine if the FMR aligns with what tenants are willing to pay.
The second question concerns the affordability of acquisitions. With no specific median home value provided, the cost of purchasing properties in ZIP 02455 remains unclear. Additionally, the lack of data on days on market (DOM) and the percentage of price-cut shares means we cannot assess how quickly properties sell or the necessity of lowering asking prices to secure sales. This ambiguity suggests caution in assuming easy access to affordable acquisitions.
The third question focuses on tenant demand. The population and the percentage of renters in ZIP 02455 are not specified, which hinders the ability to gauge the number of potential tenants and their willingness to rent. This information is crucial for understanding the local rental market dynamics and ensuring steady occupancy rates.
In summary, while the FMR for ZIP 02455 is established at $2870, the incomplete data on market rents, median home values, days on market, price-cut shares, population, and renter percentages complicates a comprehensive assessment. Landlords and investors should proceed with caution and seek additional local market insights before making decisions.
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.