Location: New Bedford, MA | Metro: New Bedford, MA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,400 |
| 1 Bedroom | $1,410 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,140 |
| 4 Bedrooms | $2,720 |
| 5 Bedrooms | $3,155 |
| 6 Bedrooms | $3,534 |
| 7 Bedrooms | $3,817 |
| 8 Bedrooms | $4,008 |
The ZIP code 02741, located in New Bedford, Massachusetts, presents a moderate yield and stability scenario for landlords and small-portfolio investors. According to HUD's Fair Market Rent (FMR) for ZIP 02741, the FMR for a two-bedroom apartment for fiscal year 2024 is set at $1,550. However, the absence of market rental prices and home values makes it challenging to fully assess the yield potential.
The median listing price for homes in ZIP 02741 ranges from $395,000 to $509,900, as seen on Zillow. With a focus on multi-family homes, some properties like the one at 140-142 Brownell St are priced at $509,900, offering six bedrooms and two bathrooms over 2,832 square feet. Another notable property is 407 Park St, listed at $469,900, providing five bedrooms and two bathrooms across 2,402 square feet. These figures suggest a reasonable entry point for investment, particularly in multi-family units.
Despite the limited data available on renters' percentage and days on market (DOM), the presence of multiple real estate listings indicates a healthy level of activity in the market. Given the FMR of $1,550 for a two-bedroom apartment, landlords can expect steady cash flow from tenants in this area. However, without specific figures on local incomes and rental demand, it is difficult to determine if this market leans towards high-yield or low-stability characteristics.
In conclusion, ZIP 02741 appears to be a steady-cashflow zone, especially for those interested in multi-family properties. The established FMR provides a reliable benchmark for rental income, but further analysis on local rental demand and income levels would be necessary to fully classify the stability of the market.
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.