Location: Barnstable Town, MA | Metro: Barnstable Town, MA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,890 |
| 1 Bedroom | $1,900 |
| 2 Bedrooms | $2,490 |
| 3 Bedrooms | $3,120 |
| 4 Bedrooms | $3,720 |
| 5 Bedrooms | $4,315 |
| 6 Bedrooms | $4,833 |
| 7 Bedrooms | $5,220 |
| 8 Bedrooms | $5,481 |
U.S. Census Bureau data (2024)
The market in ZIP code 02534, Massachusetts, is characterized by a Fixed Monthly Rent (FMR) set at $2250 for fiscal year 2024. While specific data on market rent, the percentage of price-cut share, days on market (DOM), and median home value are not available, the current FMR provides insight into the rental landscape. The FMR is a critical benchmark used by the Department of Housing and Urban Development (HUD) for programs such as Section 8, indicating the government's assessment of what constitutes fair rent in the area.
The 17.7% renter share suggests that a significant portion of the population relies on rental housing, which can exert long-term housing pressure. This figure implies that nearly one in every five residents is a renter, pointing towards a steady demand for rental properties. In markets with a high renter share, landlords often find themselves in a position where maintaining a competitive rent rate is essential to keep units occupied.
The absence of market rent data makes it challenging to compare the FMR against actual market rates. However, if the FMR closely aligns with the market rent, it indicates a balanced market where supply meets demand. If the FMR is significantly lower than the market rent, it could suggest that the rental market is experiencing upward pressure, possibly due to limited supply or increasing demand. Conversely, if the FMR exceeds market rent, it might indicate an oversupply of rental units, putting downward pressure on rents.
The high renter share also has implications for the broader housing market. It can lead to increased competition among renters, potentially driving up rents over time. For small-portfolio investors and landlords, understanding these dynamics is crucial for setting competitive rents and managing occupancy rates effectively. The reliance on rental housing in this market underscores the importance of rental properties in providing housing solutions and highlights the need for landlords to stay informed about local rental trends and regulations.
Data Sources: FMR data from HUD (2027). 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.