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 | $2,430 |
| 1 Bedroom | $2,450 |
| 2 Bedrooms | $3,200 |
| 3 Bedrooms | $4,020 |
| 4 Bedrooms | $4,790 |
| 5 Bedrooms | $5,556 |
| 6 Bedrooms | $6,223 |
| 7 Bedrooms | $6,721 |
| 8 Bedrooms | $7,057 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $4,020 | $817,273 | 0.49% | F |
| 4BR | $4,790 | $989,527 | 0.48% | F |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP code 02668 in Massachusetts reveals some interesting insights when compared to market rents. The Fair Market Rent (FMR) for a two-bedroom apartment in this area for fiscal year 2024 is set at $2560 annually, which translates to a monthly rental amount of approximately $213.33. Given the median home value in the area stands at $816,093, we can calculate an implied gross yield based on the FMR.
To determine the gross yield, we use the annual FMR and divide it by the median home value. This gives us an implied gross yield of roughly 0.31% ($2560 / $816,093).
However, the market rent is listed as N/A, indicating that there might be insufficient data to provide a precise figure. If we were to consider a hypothetical scenario where the market rent is higher than the FMR, the gross yield would also increase. For instance, if the market rent were to be around $2,700 annually, the gross yield would rise to about 0.33%. But since the actual market rent is not available, this remains speculative.
The 18.8% renter density suggests that while renting is a significant part of the housing market, a majority of homes are owner-occupied. This high median home value combined with a lower renter density implies that landlords should expect lower returns from rental income alone, especially under the Section 8 program.
The Days on Market (DOM) is also listed as N/A, which means we don't have current data on how quickly properties are rented out. This could affect the vacancy rate and thus the net operating income (NOI), but for the purposes of this analysis, we'll focus on the gross yield.
In conclusion, the implied gross yield based on the FMR is 0.31%, while a slightly higher market rent could potentially push this to 0.33%. Given the limited availability of market rent data and the relatively low renter density, the FMR-based yield is likely more representative of what landlords can realistically expect from Section 8 rentals in ZIP 02668.
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.