Location: New Bedford, MA | Metro: Providence-Fall River, RI-MA HUD Metro FMR Area
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 | $1,980 |
| 1 Bedroom | $2,020 |
| 2 Bedrooms | $2,570 |
| 3 Bedrooms | $3,080 |
| 4 Bedrooms | $3,810 |
| 5 Bedrooms | $4,420 |
| 6 Bedrooms | $4,950 |
| 7 Bedrooms | $5,346 |
| 8 Bedrooms | $5,613 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,570 | $479,407 | 0.54% | F |
| 3BR | $3,080 | $614,811 | 0.5% | F |
| 4BR | $3,810 | $726,082 | 0.52% | F |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 02717, located in Freetown, MA, within the New Bedford, MA HUD Metro FMR Area, is set at $2190 for fiscal year 2024. In comparison, the Census ACS reports the average market rent for the area at $1961. This means that landlords participating in the Section 8 program can expect to cashflow positively at the HUD FMR rate, as it exceeds the typical market rent by $229 per month. The positive cashflow potential is significant, indicating that voucher tenants will likely support a landlord's financial goals without the need for premium units.
To further analyze the investment landscape, the median home value in ZIP 02717 is $595,126. Using the HUD FMR of $2190, we can calculate a rent-to-price ratio of approximately 0.0037, which translates to a monthly rent representing about 0.37% of the median home value. This ratio suggests that the rental market is relatively healthy compared to the housing market, providing a balanced environment for both buying and renting.
Note that the median days on market (DOM) and the percentage of homes that experience price cuts are not available, but given the positive cashflow scenario and the stable rent-to-price ratio, the dynamics favor investors looking to leverage the rental income over immediate home ownership concerns.
The strongest angle for Section 8 investors in ZIP 02717 is the potential for consistent cashflow, as the HUD FMR comfortably surpasses the market rent, ensuring a reliable source of income for landlords who participate in the program.
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.