Section 8 Fair Market Rent (FMR) for ZIP 02653 - 2027

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

Investment Score for ZIP 02653

Monthly Rent (2BR)

$2,260

Median Price (2BR)

$615,780

1% Rule

0.37%

Annual Yield

4.4%

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	$1,720
1 Bedroom	$1,730
2 Bedrooms	$2,260
3 Bedrooms	$2,830
4 Bedrooms	$3,380
5 Bedrooms	$3,921
6 Bedrooms	$4,392
7 Bedrooms	$4,743
8 Bedrooms	$4,980

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,730	$303,765	0.57%	F
2BR	$2,260	$615,780	0.37%	F
3BR	$2,830	$1,091,514	0.26%	F
4BR	$3,380	$1,556,672	0.22%	F
5BR	$3,921	$2,311,722	0.17%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

6,443

Median Household Income

$102,813

Housing Units

5,765

Renter Percentage

19.0%

Occupancy Rate

54.8%

Renter Occupied

601

To determine if a landlord should buy in ZIP 02653 (Orleans, MA) for Section 8 investment, follow this decision tree based on the provided data.

1) Does FMR $1,840 (zip FY 2024) clear debt service on a $1,055,788 property?

No: The Fair Market Rent (FMR) of $1,840 per month is insufficient to cover the average debt service costs for a property valued at $1,055,788. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs, which would likely exceed this amount.

2) Is market rent $1,502 (Census ACS) above, at, or below FMR?

Below: The market rent of $1,502 per month is lower than the FMR of $1,840. This suggests that the rental market is less favorable compared to what the government is willing to pay under Section 8.

3) Are 19.0% renters + N/A-day DOM enough demand?

It Depends: With 19.0% of households being renters, there is some demand present. However, the lack of data on the days on market (DOM) makes it difficult to assess how quickly properties are rented out. A higher percentage of renters might indicate a stable tenant pool, but without knowing the DOM, it's unclear whether properties can be filled promptly.

If the answer to question 1 is no, then purchasing a property in ZIP 02653 for Section 8 purposes is not financially viable due to the inability to cover debt service with the FMR. If the answer to question 2 is below, it means the market rent is lower than the FMR, which could still make Section 8 a preferable option over market-rate rentals, assuming other factors align favorably. For question 3, if the DOM data were available and showed a quick turnover rate, the 19.0% renter population could be considered sufficient. However, without this data, the decision hinges on other factors such as the landlord's ability to manage vacancies and the overall stability of the local housing market.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.