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Essex County/Lawrence/01840

01840

ZIPSAFMR
Essex County, MA
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,500$1,650
1 BR$1,620$1,780
2 BR$2,120$2,330
3 BR$2,530$2,710
4 BR$2,790$2,800
5 BR$3,208Not available
6 BR$3,690Not available
7 BR$4,243Not available
8 BR$4,880Not available

Purchase Price Calculator

Maximum purchase price
$284,321

Cost breakdown

+Likely effective rent$2,330
HUD FMR$2,120
Market rent$2,800
Est. payment standard (110%)Used$2,330
-Principal and interest-$1,438
Loan amount$227,456
Down payment$56,864
Rate6.50%
Term30 years
-Operating costs-$692
Property taxes-$284
Insurance-$175
Utilities$0
HOA$0
Management-$233
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$37,211(65.4% ROI)
Projected value
$306,182
Return breakdown
Property appreciation+$21,862
Loan principal paid down+$8,149
Rental cash flow+$7,200
5-year hold
+$63,894(112.4% ROI)
Projected value
$321,683
Return breakdown
Property appreciation+$37,362
Loan principal paid down+$14,532
Rental cash flow+$12,000
10-year hold
+$138,261(243.1% ROI)
Projected value
$363,954
Return breakdown
Property appreciation+$79,634
Loan principal paid down+$34,628
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.79
1 BR
0.74
2 BR
0.76
3 BR
0.90
4 BR
1.00
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 01840 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 01840 (Lawrence, MA) is $2,120 a month. That is up 5.5% from $2,010 in FY 2026. Lawrence is in the Boston-Cambridge-Quincy, MA-NH 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 $3,008. Among 56 ZIP codes in Essex County, 01840 has the 55th-highest two-bedroom rent (county range $2,080–$3,420). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 01840 is 5% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 01840
BedroomsFY 2027Change90–110% range
Studio$1,500+7.9%$1,350–$1,650
1BR$1,620+5.9%$1,458–$1,782
2BR$2,120+5.5%$1,908–$2,332
3BR$2,530+5.0%$2,277–$2,783
4BR$2,790+4.9%$2,511–$3,069

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 01840
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,500$1,620$2,120$2,530$2,790
FY 2026$1,390$1,530$2,010$2,410$2,660
FY 2025$1,190$1,340$1,740$2,100$2,310
FY 2024$1,190$1,360$1,760$2,140$2,340
FY 2023$1,100$1,280$1,650$2,010$2,220

Two-bedroom rent in nearby Essex County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 01840
01830$2,320+9.4%
01831$2,470+16.5%
01832$2,300+8.5%
01833$3,010+42.0%
01834$2,080−1.9%
01835$2,410+13.7%
01840Current$2,120—
01841$2,170+2.4%
01842$2,470+16.5%
01843$2,490+17.5%
01844$2,450+15.6%
01845$3,010+42.0%

Questions about ZIP 01840 rents

How much will Section 8 pay for a two-bedroom in ZIP 01840?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $3,008, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,707 to $3,309 a month; under the ZIP-level Small Area FMR of $2,120 it would be $1,908 to $2,332. 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 01840 in?

ZIP 01840 is in the Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $3,008.

How much did fair market rent change in ZIP 01840 for FY 2027?

The two-bedroom FMR rose 5.5%, from $2,010 in FY 2026 to $2,120 in FY 2027. Since FY 2023 it has risen 28.5%.

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