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 | $1,880 |
| 1 Bedroom | $1,900 |
| 2 Bedrooms | $2,480 |
| 3 Bedrooms | $3,110 |
| 4 Bedrooms | $3,710 |
| 5 Bedrooms | $4,304 |
| 6 Bedrooms | $4,820 |
| 7 Bedrooms | $5,206 |
| 8 Bedrooms | $5,466 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,900 | $437,736 | 0.43% | F |
| 2BR | $2,480 | $656,433 | 0.38% | F |
| 3BR | $3,110 | $837,562 | 0.37% | F |
| 4BR | $3,710 | $948,474 | 0.39% | F |
| 5BR | $4,304 | $1,142,605 | 0.38% | F |
U.S. Census Bureau data (2024)
ZIP code 02642, located in Eastham, Massachusetts within the Barnstable Town, MA MSA, presents a unique profile when compared against typical ZIP codes within its metro area. The Fair Market Rent (FMR) for 02642 stands at $2070 for the fiscal year 2024, which is notably higher than the average market rent of $1,747. This suggests that while the government benchmark for affordable housing is elevated, the actual rental market may be less expensive.
The median home value in 02642 is $802,662, which is likely above the average home value seen in many other ZIP codes within the Barnstable Town, MA MSA. However, the renter share of 12.1% indicates that a smaller portion of the population is renting compared to owning homes. This relatively low renter share contrasts with the higher FMR, suggesting that the ZIP code is not primarily driven by rental demand but rather by homeownership.
To determine if 02642 represents a value pocket, a mid-tier neighborhood, or a premium sub-market within the Barnstable Town, MA MSA, we must consider the interplay between these figures. Given the higher FMR and median home value, combined with a modest renter share, it's reasonable to infer that 02642 is positioned as a premium sub-market. The high home values and elevated FMR indicate a wealthier demographic, whereas the lower-than-average renter share implies that the area is less reliant on rental income.
While the divergence between the FMR and market rent might suggest potential opportunities for landlords to increase rents, the overall context points towards a market where homeownership is more prevalent. Therefore, 02642 is unlikely to be considered a sweet spot for Section 8 properties due to its higher home values and modest renter share. For small-portfolio investors, this ZIP code would appeal more to those interested in investing in higher-value real estate or vacation homes rather than rental properties aimed at lower-income tenants.
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.