Location: Dukes County, MA | Metro: Dukes County, MA
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 | $1,640 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,360 |
| 3 Bedrooms | $3,270 |
| 4 Bedrooms | $3,650 |
| 5 Bedrooms | $4,234 |
| 6 Bedrooms | $4,742 |
| 7 Bedrooms | $5,121 |
| 8 Bedrooms | $5,377 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,800 | $883,072 | 0.2% | F |
| 2BR | $2,360 | $982,369 | 0.24% | F |
| 3BR | $3,270 | $1,201,276 | 0.27% | F |
| 4BR | $3,650 | $1,596,348 | 0.23% | F |
| 5BR | $4,234 | $2,237,353 | 0.19% | F |
U.S. Census Bureau data (2024)
The ZIP code 02557 in Dukes County, Massachusetts, stands out due to its unique characteristics. With only 1,250 residents, it is one of the smallest ZIP codes in the region. Despite its small size, 31.1% of the population rents their homes, indicating a significant demand for rental properties. The median home value in this ZIP code is exceptionally high at $1,243,279, reflecting the exclusive nature of the area.
In terms of Section 8 voucher economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $2,290. However, the local market rent data is not available, which means that landlords need to rely on the FMR to determine the rent they can charge for Section 8 tenants. This could be advantageous if the local market rent is below the FMR, allowing landlords to receive a higher rent payment through the voucher program.
Given the data signature of ZIP 02557, it appears to be a stable area. The high median home value suggests a strong economic foundation, and the lack of change in the median income data implies consistent financial conditions among residents. Although the small number of residents and high percentage of renters might indicate some transitional elements, the overall picture points towards stability, particularly in the housing 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.