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 | $2,550 |
| 1 Bedroom | $2,640 |
| 2 Bedrooms | $3,150 |
| 3 Bedrooms | $3,750 |
| 4 Bedrooms | $4,140 |
| 5 Bedrooms | $4,802 |
| 6 Bedrooms | $5,378 |
| 7 Bedrooms | $5,808 |
| 8 Bedrooms | $6,098 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,640 | $489,110 | 0.54% | F |
| 2BR | $3,150 | $782,879 | 0.4% | F |
| 3BR | $3,750 | $1,131,301 | 0.33% | F |
| 4BR | $4,140 | $1,576,006 | 0.26% | F |
| 5BR | $4,802 | $2,265,474 | 0.21% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 02458, Newton, Massachusetts, in fiscal year 2024 is set at $3030. This figure represents the payment standard for Section 8 housing vouchers, meaning that the government will pay up to this amount on behalf of eligible tenants. However, it's important to note that this does not represent the total rent you can charge; rather, it's the maximum subsidy amount.
To put this into context, the Zillow Observed Rental Index (ZORI) for the area is currently at $3,209. This indicates that the typical market rent for a unit in Newton is slightly higher than the FMR, suggesting that landlords might need to adjust their expectations if they plan to participate in the Section 8 program.
The demand for rental properties in Newton is robust, with 38.3% of residents being renters. This high percentage of renters translates to a significant pool of potential tenants who could benefit from Section 8 vouchers, ensuring a steady stream of applicants for your property.
When considering the acquisition cost of a new rental property, the median home value in Newton is approximately $1,277,246. This means that the initial investment required to enter the Section 8 market in Newton would be substantial. However, the long-term benefits include a stable income stream from the government subsidy and a reliable tenant base.
Before deciding to participate in the Section 8 program, verify that your property meets all the necessary criteria for eligibility, including physical condition, size, and location. The government has strict requirements to ensure that tenants receive safe and habitable living conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.