Section 8 Fair Market Rent (FMR) for ZIP 02563 - 2027

Location: Barnstable Town, MA | Metro: Barnstable Town, MA MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,940
1 Bedroom	$1,960
2 Bedrooms	$2,560
3 Bedrooms	$3,210
4 Bedrooms	$3,830
5 Bedrooms	$4,443
6 Bedrooms	$4,976
7 Bedrooms	$5,374
8 Bedrooms	$5,643

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

10,436

Median Household Income

$121,455

Housing Units

5,042

Renter Percentage

11.1%

Occupancy Rate

88.1%

Renter Occupied

493

Housing Authorities Serving ZIP 02563

Barnstable Housing Authority (Hyannis, MA) - 549 Section 8 vouchers
Falmouth Housing Authority (Falmouth, MA) - 505 Section 8 vouchers
Yarmouth Housing Authority (South Yarmouth, MA) - 332 Section 8 vouchers
Sandwich Housing Authority (Sandwich, MA) - 196 Section 8 vouchers
Dennis Housing Authority (South Dennis, MA) - 101 Section 8 vouchers
Bourne Housing Authority (Pocasset, MA) - 79 Section 8 vouchers

To determine if a landlord should invest in ZIP 02563 (Sandwich, MA) for Section 8 properties, follow this decision tree:

Step 1: Does the Fair Market Rent (FMR) of $2320 cover the debt service on a property valued at $698,782?

No: The FMR does not sufficiently cover the debt service on a property of that value. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. Given the high property value, the FMR would likely fall short unless the debt service is exceptionally low.
Yes: Proceed to Step 2.

Step 2: Compare the market rent of $1,745 to the FMR of $2320.

Market rent is below FMR: This indicates that the rental market is undervalued relative to the FMR, potentially offering a good opportunity for landlords willing to participate in the Section 8 program.
Market rent is equal to or above FMR: There is little to no financial incentive for landlords to join the Section 8 program since they can achieve similar rents in the open market. Consider other factors such as tenant stability and government subsidies.

Step 3: Evaluate the demand for rental properties. In Sandwich, MA, 11.1% of residents are renters, and the days on market (DOM) is listed as N/A, which could mean insufficient data or an efficient rental market.

It depends: With 11.1% of the population being renters, there is some demand for rental properties. However, the lack of DOM data makes it difficult to assess the speed at which properties are rented. If the rental market is competitive and quick, landlords may still find opportunities despite the relatively low percentage of renters. Conversely, if the market is slow, the demand might not be sufficient to support a new Section 8 investment.

In conclusion, the decision to invest in ZIP 02563 for Section 8 properties hinges on the ability of the FMR to cover debt service, the comparison between market rent and FMR, and the overall demand for rentals. Landlords must carefully weigh these factors before making an investment decision.

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.