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Worcester County/Lancaster/01523

01523

ZIPSAFMR
Worcester County, MA
Zillow

ZIP Investment Score

61Below average

095130300
BRFMR
Eff. Rent
0 BR$2,220$1,620
1 BR$2,440$2,160
2 BR$3,190$2,820
3 BR$4,370$3,090
4 BR$4,770$3,120
5 BR$5,486Not available
6 BR$6,308Not available
7 BR$7,255Not available
8 BR$8,343Not available

Purchase Price Calculator

Maximum purchase price
$357,134

Cost breakdown

+Likely effective rent$2,820
HUD FMR$3,190
Market rentUsed$2,820
Est. payment standard (92%)$2,950
-Principal and interest-$1,806
Loan amount$285,707
Down payment$71,427
Rate6.50%
Term30 years
-Operating costs-$814
Property taxes-$357
Insurance-$175
Utilities$0
HOA$0
Management-$282
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$44,896(62.9% ROI)
Projected value
$384,595
Return breakdown
Property appreciation+$27,460
Loan principal paid down+$10,236
Rental cash flow+$7,200
5-year hold
+$77,184(108.1% ROI)
Projected value
$404,065
Return breakdown
Property appreciation+$46,930
Loan principal paid down+$18,254
Rental cash flow+$12,000
10-year hold
+$167,524(234.5% ROI)
Projected value
$457,162
Return breakdown
Property appreciation+$100,028
Loan principal paid down+$43,496
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.37
1 BR
1.13
2 BR
1.13
3 BR
1.41
4 BR
1.53
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 01523 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 01523 (Lancaster, MA) is $3,190 a month. That is up 16.8% from $2,730 in FY 2026. Lancaster is in the Fitchburg-Leominster, MA HUD Metro FMR Area. 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 $1,900. Among 103 ZIP codes in Worcester County, 01523 is tied for the 4th-highest two-bedroom rent (county range $1,440–$3,400). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 01523 is 44% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 01523
BedroomsFY 2027Change90–110% range
Studio$2,220+18.1%$1,998–$2,442
1BR$2,440+17.3%$2,196–$2,684
2BR$3,190+16.8%$2,871–$3,509
3BR$4,370+15.0%$3,933–$4,807
4BR$4,770+12.0%$4,293–$5,247

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 01523
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,220$2,440$3,190$4,370$4,770
FY 2026$1,880$2,080$2,730$3,800$4,260
FY 2025$1,830$2,040$2,670$3,740$4,290
FY 2024$1,630$1,830$2,410$3,400$3,740
FY 2023$1,440$1,640$2,160$2,930$3,480

Two-bedroom rent in nearby Worcester County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 01523
01515$1,860−41.7%
01516$2,120−33.5%
01518$1,860−41.7%
01519$2,810−11.9%
01520$2,430−23.8%
01522$2,070−35.1%
01523Current$3,190—
01524$1,860−41.7%
01525$1,980−37.9%
01526$1,980−37.9%
01527$2,090−34.5%
01529$2,040−36.1%

Questions about ZIP 01523 rents

How much will Section 8 pay for a two-bedroom in ZIP 01523?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,900, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,710 to $2,090 a month; under the ZIP-level Small Area FMR of $3,190 it would be $2,871 to $3,509. 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 01523 in?

ZIP 01523 is in the Fitchburg-Leominster, MA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,900.

How much did fair market rent change in ZIP 01523 for FY 2027?

The two-bedroom FMR rose 16.8%, from $2,730 in FY 2026 to $3,190 in FY 2027. Since FY 2023 it has risen 47.7%.

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

County fair market rentLancaster, MA fair market rentMA statewide rentsWhat is SAFMR?Data sources