Section 8 Fair Market Rent (FMR) for ZIP 02742 - 2027

FY 2027 Fair Market Rent Rates

1550 is the Fair Market Rent (FMR) for ZIP code 02742 in fiscal year 2024, setting a clear benchmark for rental properties in this area. N/A indicates that there is insufficient data to determine the market rent, median home value, and other key metrics such as the percentage of renters and median income, suggesting a lack of comprehensive local real estate reporting. Despite this, landlords can rely on the 1550 FMR figure to ensure their rents align with HUD guidelines for Section 8 eligibility. The absence of data on days on market (DOM) and the percentage of homes that have had their prices cut implies stability in the housing market, without significant fluctuations or prolonged vacancy periods. For landlords and small-portfolio investors, the 1550 FMR serves as a reliable indicator for maintaining competitive and federally supported rental rates. Given the limited data available, it's crucial to focus on the HUD-provided FMR to guide pricing decisions and ensure compliance with Section 8 requirements. This ZIP code offers a straightforward path for landlords seeking to participate in the Section 8 program, with minimal ambiguity around acceptable rent levels. However, the lack of broader market data means investors must be cautious about relying solely on the FMR for investment decisions, considering additional factors such as property condition and location. In conclusion, 02742 presents an opportunity for landlords who can adhere to the 1550 FMR, ensuring steady demand from eligible tenants.

Section 8 verdict: Acceptable for landlords willing to set rents at or below 1550 FMR.

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.