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 | $1,700 |
| 1 Bedroom | $1,720 |
| 2 Bedrooms | $2,190 |
| 3 Bedrooms | $2,620 |
| 4 Bedrooms | $3,290 |
| 5 Bedrooms | $3,816 |
| 6 Bedrooms | $4,274 |
| 7 Bedrooms | $4,616 |
| 8 Bedrooms | $4,847 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,720 | $398,147 | 0.43% | F |
| 2BR | $2,190 | $454,699 | 0.48% | F |
| 3BR | $2,620 | $584,314 | 0.45% | F |
| 4BR | $3,290 | $721,088 | 0.46% | F |
| 5BR | $3,816 | $774,613 | 0.49% | F |
U.S. Census Bureau data (2024)
Dartmouth, Massachusetts, located in Bristol County, stands out among other ZIP codes due to its unique demographic and economic characteristics. With a population of 22,445 residents, Dartmouth has a rental rate of 22.4%, indicating a modest but significant presence of renters in the community. The median household income in Dartmouth is $102,079, which is higher than the national average, reflecting a generally affluent environment. However, the median home value of $577,746 suggests that homeownership is relatively expensive, potentially limiting accessibility for lower-income families.
The voucher economics in Dartmouth provide insight into the rental market dynamics. The Fair Market Rent (FMR) for ZIP code 02747 in fiscal year 2024 is set at $2,050. This figure contrasts sharply with the Census ACS-reported market rent of $1,321, revealing a substantial gap between government-set rental rates and actual market conditions. Landlords and small-portfolio investors can leverage this disparity by participating in the Section 8 program, which ensures a steady and predictable income stream. The difference between the FMR and market rent allows for potential profit margins when accepting vouchers, making it an attractive option for property owners.
Analyzing the data signature of ZIP 02747, it appears stable rather than transitional. The relatively high median income supports a consistent demand for housing, while the modest rental rate indicates a predominantly owner-occupied community. The significant discrepancy between FMR and market rent also points towards a stable market where the Section 8 program can serve as a valuable tool for both tenants and landlords. For small-portfolio investors, Dartmouth presents a reliable investment opportunity with a solid foundation for long-term growth and stability.
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.