Location: Barnstable Town, 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 | $1,820 |
| 1 Bedroom | $1,830 |
| 2 Bedrooms | $2,390 |
| 3 Bedrooms | $3,000 |
| 4 Bedrooms | $3,570 |
| 5 Bedrooms | $4,141 |
| 6 Bedrooms | $4,638 |
| 7 Bedrooms | $5,009 |
| 8 Bedrooms | $5,259 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,830 | $317,811 | 0.58% | F |
| 2BR | $2,390 | $548,517 | 0.44% | F |
| 3BR | $3,000 | $857,174 | 0.35% | F |
| 4BR | $3,570 | $1,120,299 | 0.32% | F |
| 5BR | $4,141 | $1,630,138 | 0.25% | F |
U.S. Census Bureau data (2024)
The analysis for the Section 8 program in ZIP code 02631, which covers Brewster, MA, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $1910, while the Census ACS data indicates an average market rent of $1589. This means that the FMR exceeds the market rent by $321, or approximately 20.2%. The disparity is crucial for landlords and small-portfolio investors considering participation in the Section 8 program.
The higher FMR compared to the market rent makes Brewster an attractive location for voucher tenants, turning it into a yield play. Landlords who accept Section 8 vouchers can expect to receive the higher FMR rate, which is $1910 per month, rather than the lower market rate. This provides a financial advantage over renting to non-voucher tenants, who might only pay the average market rent of $1589.
In the context of Brewster, where 15.5% of residents are renters and the median home value is $778,381, the opportunity to secure higher rental income through the Section 8 program is particularly compelling. Additionally, the median household income in Brewster is $102,132, indicating a relatively affluent area where the demand for subsidized housing could be lower. However, the higher FMR rate compensates for any potential decrease in demand from local renters who do not require housing assistance.
Despite the advantages, it's important for landlords to understand the responsibilities and requirements associated with accepting Section 8 vouchers. While the program ensures timely payment of the higher FMR rate, landlords must also adhere to HUD standards for property condition and maintenance, which can sometimes incur additional costs.
To summarize, the $321 difference between the FMR and market rent in Brewster, MA, represents a 20.2% premium for landlords who choose to participate in the Section 8 program. This makes it a strategic option for increasing rental yields in a market where overall rents are lower than the government-set FMR. The decision to accept voucher tenants should be made with consideration of the local economic context and the specific obligations of the program.
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.