For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 01003 (Amherst, MA) is $3,050 a month. That is up 22.5% from $2,490 in FY 2026. Amherst is in the Amherst Town-Northampton, MA MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $2,034. Among 37 ZIP codes in Hampshire County, 01003 has the highest two-bedroom rent (county range $1,800–$3,050). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 01003 is 37% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 01003
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,720
$2,120
+23.3%
$1,908–$2,332
1BR
$1,960
$2,390
+21.9%
$2,151–$2,629
2BR
$2,490
$3,050
+22.5%
$2,745–$3,355
3BR
$3,110
$3,990
+28.3%
$3,591–$4,389
4BR
$3,360
$4,150
+23.5%
$3,735–$4,565
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 01003
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,120
$2,390
$3,050
$3,990
$4,150
FY 2026
$1,720
$1,960
$2,490
$3,110
$3,360
FY 2025
$1,330
$1,540
$1,900
$2,320
$2,590
FY 2024
$1,200
$1,440
$1,770
$2,150
$2,520
FY 2023
$1,070
$1,300
$1,600
$1,960
$2,360
Two-bedroom rent in nearby Hampshire County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 01003?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,034, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,831 to $2,237 a month; under the ZIP-level Small Area FMR of $3,050 it would be $2,745 to $3,355. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 01003 in?
ZIP 01003 is in the Amherst Town-Northampton, MA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,034.
How much did fair market rent change in ZIP 01003 for FY 2027?
The two-bedroom FMR rose 22.5%, from $2,490 in FY 2026 to $3,050 in FY 2027. Since FY 2023 it has risen 90.6%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set