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 | $3,250 |
| 1 Bedroom | $3,360 |
| 2 Bedrooms | $4,010 |
| 3 Bedrooms | $4,780 |
| 4 Bedrooms | $5,270 |
| 5 Bedrooms | $6,113 |
| 6 Bedrooms | $6,847 |
| 7 Bedrooms | $7,395 |
| 8 Bedrooms | $7,765 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $4,010 | $1,136,511 | 0.35% | F |
| 3BR | $4,780 | $1,480,934 | 0.32% | F |
| 4BR | $5,270 | $2,044,955 | 0.26% | F |
| 5BR | $6,113 | $2,735,339 | 0.22% | F |
U.S. Census Bureau data (2024)
ZIP code 02482, located in Wellesley, MA, is part of the larger Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area. To understand its position within this metro area, we can compare its Fair Market Rent (FMR), market rent, home values, and renter share to typical figures for the region.
The FMR for ZIP 02482 is set at $3660 for fiscal year 2024. This figure is higher than the average FMR for the Boston metro area, which generally ranges between $2,500 and $3,500 depending on the ZIP code. The market rent of $2,701 is also above average for the region, where typical market rents hover around $2,000 to $2,500. These figures suggest that Wellesley is a premium sub-market within the Boston metro area, commanding higher rents both for subsidized housing and on the open market.
The median home value in ZIP 02482 is $1,823,824, significantly higher than the typical home values seen across the Boston metro area. This further supports the classification of Wellesley as a premium sub-market, characterized by high-end residential properties that are likely to attract wealthier residents and investors seeking luxury real estate opportunities.
The renter share of 19.3% in ZIP 02482 is lower than what is typically observed in the Boston metro area, where renter shares can range from 25% to over 50%. This indicates a stronger owner-occupied housing market in Wellesley compared to other parts of the Boston area, where rental markets are often more robust due to the presence of universities and young professionals.
Based on these figures, ZIP 02482 is not a value pocket nor a mid-tier neighborhood within the Boston metro area. Instead, it stands out as a premium sub-market with high home values and rents, and a relatively low proportion of renters. This makes it less likely to be a sweet spot for Section 8 investors looking for areas with a high renter share and lower property values, but it remains a desirable location for those interested in the high-end segment of the real estate market.
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.