Location: New Bedford, MA | Metro: New Bedford, 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 | $1,290 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $1,980 |
| 4 Bedrooms | $2,510 |
| 5 Bedrooms | $2,912 |
| 6 Bedrooms | $3,261 |
| 7 Bedrooms | $3,522 |
| 8 Bedrooms | $3,698 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,660 | $437,206 | 0.38% | F |
| 3BR | $1,980 | $552,592 | 0.36% | F |
| 4BR | $2,510 | $666,251 | 0.38% | F |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP code 02743, Acushnet, MA, provides insight into potential investment yields for landlords and small-portfolio investors. The Fair Market Rent (FMR) for a 2-bedroom apartment in FY 2024 is set at $1360 per month, while the Census ACS reports the market rent at $1,170 per month. To understand the implications, we must first annualize these figures.
Annualizing the FMR at $1360 per month gives us an annual rental income of $16,320. Using the median home value of $523,690, the implied gross yield for a property under Section 8 would be approximately 3.12%. This calculation is derived by dividing the annual rental income by the median home value: $16,320 / $523,690 = 0.0312 or 3.12%.
On the other hand, if we consider the market rent of $1,170 per month, the annualized rental income would be $14,040. The implied gross yield based on market rent would then be about 2.68%, calculated as $14,040 / $523,690 = 0.0268 or 2.68%.
The difference between these two gross yields highlights the financial benefit of participating in the Section 8 program over renting at market rates. However, the realism of these scenarios depends heavily on the local rental market dynamics, including the renter density and days on market (DOM).
With a renter density of 14.9% in Acushnet, it's clear that the majority of homeownership is not rented out, suggesting a relatively low demand for rentals. The N/A-day DOM indicates that there is no readily available data on how long properties typically stay on the market, which could be due to a variety of factors including a balanced market or limited rental listings.
Given the low renter density, it's likely that the market rent scenario is more realistic for most landlords. However, for those who can secure a Section 8 tenant, the higher gross yield of 3.12% offers a more attractive return compared to the market rent yield of 2.68%. Investors should weigh the benefits of the higher yield against the potential administrative complexities and limitations associated with the Section 8 program.
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.