Section 8 Fair Market Rent (FMR) for ZIP 02644 - 2027

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

Investment Score for ZIP 02644

Monthly Rent (2BR)

$2,690

Median Price (2BR)

$497,280

1% Rule

0.54%

Annual Yield

6.49%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,040
1 Bedroom	$2,060
2 Bedrooms	$2,690
3 Bedrooms	$3,370
4 Bedrooms	$4,020
5 Bedrooms	$4,663
6 Bedrooms	$5,223
7 Bedrooms	$5,641
8 Bedrooms	$5,923

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$2,690	$497,280	0.54%	F
3BR	$3,370	$640,710	0.53%	F
4BR	$4,020	$724,977	0.55%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,700

Median Household Income

$108,158

Housing Units

1,546

Renter Percentage

11.4%

Occupancy Rate

94.6%

Renter Occupied

167

To determine if a landlord should invest in ZIP 02644 (Forestdale, MA) for Section 8 properties, follow this decision tree based on the provided data.

Step 1: Does the Fair Market Rent (FMR) of $2010 (for zip code FY 2024) cover the debt service on a property valued at $639,947?

No: The FMR does not clear the debt service. A property valued at $639,947 likely has higher mortgage payments and maintenance costs that cannot be covered by the FMR of $2010 alone. This makes it unviable for Section 8 without additional rental income or subsidies.

Step 2: Is the market rent of $2,176 (from Census ACS) above, at, or below the FMR?

Above: The market rent of $2,176 exceeds the FMR of $2010. Landlords could potentially earn more by renting to non-Section 8 tenants, although this also means the property is less affordable for low-income families who rely on Section 8 vouchers.
At or Below: The market rent is either equal to or lower than the FMR. This suggests that the property would be competitive in the local rental market, especially for those using Section 8 vouchers.

Step 3: Are the 11.4% of renters combined with the N/A-day days on market (DOM) sufficient to meet demand?

It Depends: With 11.4% of the population being renters, there is some demand for rental properties. However, the lack of data on days on market (DOM) makes it difficult to assess how quickly properties are rented out. If the DOM is short, this indicates strong demand; if long, it suggests weaker demand.

In conclusion, the viability of purchasing a property in ZIP 02644 for Section 8 investment hinges on the ability to cover debt service with the FMR, the comparison between market rent and FMR, and the strength of rental demand. Given the data, the initial hurdle is the inability of the FMR to cover the debt service on a $639,947 property. Beyond that, the market rent exceeding the FMR might steer landlords towards non-Section 8 tenants. Lastly, the rental demand appears modest but requires further investigation into the DOM to make a definitive recommendation.

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.