Location: Nantucket County, MA | Metro: Nantucket County, MA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,510 |
| 1 Bedroom | $2,750 |
| 2 Bedrooms | $3,600 |
| 3 Bedrooms | $4,290 |
| 4 Bedrooms | $5,420 |
| 5 Bedrooms | $6,287 |
| 6 Bedrooms | $7,041 |
| 7 Bedrooms | $7,604 |
| 8 Bedrooms | $7,984 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 02584, located in Nantucket County, MA, reveals several key insights into the rental landscape and the viability of voucher tenants.
The HUD Fair Market Rent (FMR) for the area, set at $3,140 for the fiscal year 2026, is the primary benchmark for determining the financial feasibility of housing vouchers. However, due to the lack of available market rent data for comparison, it's challenging to provide a direct cashflow analysis. Nonetheless, given the high cost of living in Nantucket County, it's reasonable to infer that market rents are likely above the HUD FMR, which suggests that voucher tenants would generally cashflow at the FMR rate but may do so marginally without premium units.
The median home value data for ZIP 02584 is also unavailable, which makes deriving an accurate rent-to-price ratio difficult. Typically, a higher median home value would imply a lower rent-to-price ratio, indicating a stronger preference for homeownership over renting. This dynamic could affect the demand for rental properties, including those accepting Section 8 vouchers.
In the absence of specific data on days on market (DOM) and price-cut shares, we can still consider the broader implications of the rent-versus-buy dynamics. The scarcity of rental data points to a potentially tight market where rental options are limited, which could work in favor of landlords who are willing to accept vouchers.
The strongest angle for investors in this ZIP code is likely appreciation. Given the unique location of Nantucket County, which is a popular tourist destination and has historically seen strong property value growth, investing in rental properties here can be a strategic move towards long-term asset appreciation, even if immediate cashflow is marginal.
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.