01864

ZIPSAFMR

Middlesex County, MA

ZIP Investment Score

46Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$2,560	$1,980	6.2%
1 BR	$2,640	$2,160	4.7%
2 BR	$3,160	$2,960	5.0%
3 BR	$3,770	$3,480	4.5%
4 BR	$4,150	$4,250	4.5%
5 BR	$4,773	Not available	4.5%
6 BR	$5,488	Not available	4.5%
7 BR	$6,312	Not available	4.5%
8 BR	$7,258	Not available	4.5%

Purchase Price Calculator

Maximum purchase price

$377,938

Cost breakdown

+Likely effective rent$2,960

HUD FMR$3,160

Market rentUsed$2,960

Est. payment standard (96%)$3,030

-Principal and interest-$1,911

Loan amount$302,351

Down payment$75,588

Rate6.50%

Term30 years

-Operating costs-$849

Property taxes-$378

Insurance-$175

Utilities$0

HOA$0

Management-$296

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$47,092(62.3% ROI)

Projected value

$406,998

Return breakdown

Property appreciation+$29,060

Loan principal paid down+$10,832

Rental cash flow+$7,200

5-year hold

+$80,981(107.1% ROI)

Projected value

$427,602

Return breakdown

Property appreciation+$49,664

Loan principal paid down+$19,317

Rental cash flow+$12,000

10-year hold

+$175,884(232.7% ROI)

Projected value

$483,793

Return breakdown

Property appreciation+$105,855

Loan principal paid down+$46,029

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.29ratio

FMR$2,560

Market$1,980

vs market+$580

FMR is above market; underwrite to market rent.

1.29

1 BR

1.22ratio

FMR$2,640

Market$2,160

vs market+$480

FMR is above market; underwrite to market rent.

1.22

2 BR

1.07ratio

FMR$3,160

Market$2,960

vs market+$200

FMR is near market; voucher and private rents are aligned.

1.07

3 BR

1.08ratio

FMR$3,770

Market$3,480

vs market+$290

FMR is near market; voucher and private rents are aligned.

1.08

4 BR

0.96ratio

FMR$4,150

Market$4,310

vs market-$160

FMR is near market; voucher and private rents are aligned.

0.96

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 01864 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 01864 (North Reading, MA) is $3,160 a month. That is down 0.3% from $3,170 in FY 2026. North Reading 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 107 ZIP codes in Middlesex County, 01864 is tied for the 40th-highest two-bedroom rent (county range $2,240–$4,510). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 01864 is 42% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 01864
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$2,540	$2,560	+0.8%	$2,304–$2,816
1BR	$2,670	$2,640	−1.1%	$2,376–$2,904
2BR	$3,170	$3,160	−0.3%	$2,844–$3,476
3BR	$3,800	$3,770	−0.8%	$3,393–$4,147
4BR	$4,200	$4,150	−1.2%	$3,735–$4,565

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 01864
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$2,560	$2,640	$3,160	$3,770	$4,150
FY 2026	$2,540	$2,670	$3,170	$3,800	$4,200
FY 2025	$2,380	$2,510	$2,980	$3,590	$3,950
FY 2024	$2,140	$2,300	$2,730	$3,300	$3,640
FY 2023	$1,820	$1,980	$2,370	$2,880	$3,180

Two-bedroom rent in nearby Middlesex County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 01864
01850	$2,240	−29.1%
01851	$2,440	−22.8%
01852	$2,280	−27.8%
01853	$2,980	−5.7%
01854	$2,290	−27.5%
01862	$2,580	−18.4%
01863	$2,340	−25.9%
01864Current	$3,160	—
01865	$2,980	−5.7%
01866	$2,980	−5.7%
01867	$2,790	−11.7%
01876	$3,150	−0.3%

Questions about ZIP 01864 rents

How much will Section 8 pay for a two-bedroom in ZIP 01864?

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 $3,160 it would be $2,844 to $3,476. 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 01864 in?

ZIP 01864 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 01864 for FY 2027?

The two-bedroom FMR fell 0.3%, from $3,170 in FY 2026 to $3,160 in FY 2027. Since FY 2023 it has risen 33.3%.

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 rent North Reading, MA fair market rent MA statewide rents What is SAFMR?Data sources