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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,230 | $342,144 | 0.65% | D |
| 2BR | $2,650 | $530,976 | 0.5% | F |
| 3BR | $3,180 | $670,804 | 0.47% | F |
| 4BR | $3,510 | $839,776 | 0.42% | F |
| 5BR | $4,072 | $1,302,067 | 0.31% | F |
U.S. Census Bureau data (2024)
ZIP code 02532, located in Bourne, Massachusetts, falls within the Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 02532 is set at $2,380 for fiscal year 2024. This figure represents the maximum rent allowed for a unit to be eligible for Section 8 subsidies.
The market rent in ZIP 02532 is currently at $1,512. This is notably lower than the FMR, indicating that there is room for landlords to charge more and still remain within Section 8 guidelines. The median home value in the area stands at $639,140, which is higher than the average for many ZIP codes in the broader Boston metro area, suggesting a relatively affluent neighborhood.
However, the renter share in ZIP 02532 is 21.7%, which is significant but not unusually high compared to other parts of the Boston metro area. Typically, areas with a higher renter share and lower home values might be considered attractive for Section 8 properties, as they indicate a concentration of renters who may benefit most from the program. In ZIP 02532, despite the higher renter share, the home values suggest it is not a value pocket but rather a mid-tier neighborhood.
The combination of an above-average FMR and a below-FMR market rent makes ZIP 02532 a favorable location for landlords interested in participating in the Section 8 program. Landlords can offer units at or near the market rate and still receive a subsidy that covers the gap between actual rent and the FMR. This dynamic can provide a steady income stream while maintaining competitive pricing within the local rental market.
In conclusion, ZIP 02532 appears to be a mid-tier neighborhood within the Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, offering opportunities for landlords to participate in the Section 8 program without compromising on property values or rental income. The specific figures indicate a balance between affordability for tenants and profitability for landlords.
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.