Section 8 Fair Market Rent (FMR) for ZIP 02661 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 housing in ZIP code 02661, located in Barnstable Town County, Massachusetts, are straightforward when analyzed closely. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2024 is set at $2080. This figure represents the maximum amount that the federal government will pay toward a tenant's rent, based on the local rental market conditions.

To understand how this works for landlords, it’s essential to break down the components of a Section 8 voucher payment. The total rent is split into two parts: the tenant portion and the government subsidy. Tenants are generally required to contribute 30% of their adjusted income towards rent. Beyond this base rent, there are also utility allowances which can vary but are typically around $300-$400 per month depending on the specifics of the lease and the household's needs.

Let’s walk through an example calculation. If a tenant’s adjusted income is $1500 per month, they would be expected to pay 30%, which equals $450, toward the rent. The remaining amount would be subsidized by the government up to the SAFMR limit. In this case, the government would cover the difference between the $450 tenant contribution and the SAFMR of $2080, up to the maximum allowable rent. Therefore, the government subsidy would be $1630, making the total rent collected $2080.

Note that the SAFMR is specifically set for this ZIP code, meaning it reflects the unique economic conditions and rental costs of the area. Landlords should be aware that the actual rent paid by the government might be less if the market rent for similar units is lower than the SAFMR. However, the SAFMR acts as a cap on what the government will reimburse.

Given that the local market rent data is currently unavailable, we cannot provide a direct comparison to determine if landlords will face a reimbursement gap or surplus. Nonetheless, if the market rent is higher than the SAFMR, landlords will likely experience a gap where the government subsidy does not fully cover the market rent. Conversely, if the market rent is lower than the SAFMR, landlords could see a surplus where the government subsidy exceeds the typical rent charged in the area.

In summary, landlords in ZIP 02661 can expect a maximum reimbursement of $2080 for a two-bedroom apartment under the Section 8 program. This amount includes both the tenant’s contribution and any applicable utility allowances. The exact financial impact will depend on the local market rents relative to the SAFMR, leading to either a reimbursement gap or surplus.

Data Sources: FMR data from HUD (2027).

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.