Section 8 Fair Market Rent (FMR) for ZIP 02768 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 housing in ZIP code 02768, located in Easton-Raynham County, Massachusetts, revolve around the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1950 for fiscal year 2024. This SAFMR is specifically tailored for this ZIP code, meaning it reflects the rental rates and living costs unique to this area.

A landlord participating in the Section 8 program receives monthly rental assistance payments from the government. These payments cover most of the rent but not all. Tenants are responsible for paying a portion of the rent themselves, typically around 30% of their income. For instance, if a tenant's income is $1500 per month, they would pay approximately $450 towards the rent.

In addition to the tenant's contribution, the voucher also includes allowances for utilities. These allowances vary based on the size of the unit and the region. For a two-bedroom apartment in ZIP 02768, the utility allowance can be calculated and added to the tenant's payment to determine the total amount covered by the voucher.

To illustrate, let's assume the utility allowance for a two-bedroom apartment in this ZIP code is $200. If the tenant's portion is $450, the total amount covered by the voucher would be $650 ($450 + $200). Therefore, the government would reimburse the landlord $1300 ($1950 - $650) for the remaining rent.

This system ensures that landlords receive a stable income, albeit slightly below the SAFMR. However, it also provides a safety net for low-income families, enabling them to afford decent housing without being overburdened by rent payments.

In ZIP 02768, the typical reimbursement gap for a two-bedroom voucher is the difference between the SAFMR and the combined tenant payment and utility allowance. Given the assumptions above, the reimbursement gap is $650. This means that landlords will see a $650 shortfall each month compared to the SAFMR, unless the local market rent is lower than the SAFMR, in which case there could be a surplus.

Note that the local market rent for ZIP 02768 was not provided, so it's unclear whether there might be a surplus in some cases. However, based on the SAFMR of $1950 and the typical reimbursement calculations, landlords should expect a consistent reimbursement rate that is $650 less than the SAFMR.

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.