Location: New Bedford, MA | Metro: Brockton, 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 | $1,470 |
| 1 Bedroom | $1,590 |
| 2 Bedrooms | $2,080 |
| 3 Bedrooms | $2,610 |
| 4 Bedrooms | $2,760 |
| 5 Bedrooms | $3,202 |
| 6 Bedrooms | $3,586 |
| 7 Bedrooms | $3,873 |
| 8 Bedrooms | $4,067 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,080 | $597,269 | 0.35% | F |
| 3BR | $2,610 | $676,984 | 0.39% | F |
| 4BR | $2,760 | $814,881 | 0.34% | F |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $1,680 for ZIP 02770 (Rochester, MA) in fiscal year 2024 will sufficiently cover the mortgage on a home valued at $686,428. To evaluate this, we must consider the prevailing mortgage rates. As of recent data, the average 30-year mortgage rate in Rochester is approximately 4.5%. Using this rate, the monthly mortgage payment on a $686,428 home with a typical 20% down payment would be around $3,100. Thus, the FMR alone does not cover the mortgage payment, indicating a need for additional income sources.
The rental vacancy rate in ZIP 02770 stands at 11.9%, which could prompt concerns regarding sufficient tenant demand. However, the high number of rental listings—over 1,699 according to Trulia—suggests a robust rental market. Despite the relatively high vacancy rate, the sheer volume of rental properties indicates that there is ample opportunity for landlords to attract tenants, especially if they offer competitive pricing and amenities.
An investor might also wonder if housing vouchers will keep pace with market rents of $1,432. Unfortunately, the data does not provide a direct comparison between voucher amounts and market rents specifically for ZIP 02770. However, it is known that voucher programs often face funding shortfalls, leading to potential delays or reduced availability. This could mean that voucher holders might struggle to afford market-rate rents, posing a risk for landlords who rely on voucher recipients. It is advisable to monitor local housing authority announcements and budget allocations to gauge the reliability of voucher payments.
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.