Essex County/Gloucester/01931

01931

ZIPSAFMR

Essex County, MA

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$2,130	$2,290	5.2%
1 BR	$2,230	$2,440	4.0%
2 BR	$2,650	$2,920	3.6%
3 BR	$3,180	$3,470	3.2%
4 BR	$3,510	$3,860	3.2%
5 BR	$4,036	Not available	3.2%
6 BR	$4,642	Not available	3.2%
7 BR	$5,338	Not available	3.2%
8 BR	$6,139	Not available	3.2%

Purchase Price Calculator

Maximum purchase price

$371,994

Cost breakdown

+Likely effective rent$2,920

HUD FMR$2,650

Market rent$3,100

Est. payment standard (110%)Used$2,920

-Principal and interest-$1,881

Loan amount$297,595

Down payment$74,399

Rate6.50%

Term30 years

-Operating costs-$839

Property taxes-$372

Insurance-$175

Utilities$0

HOA$0

Management-$292

=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

+$46,465(62.5% ROI)

Projected value

$400,597

Return breakdown

Property appreciation+$28,603

Loan principal paid down+$10,662

Rental cash flow+$7,200

5-year hold

+$79,897(107.4% ROI)

Projected value

$420,877

Return breakdown

Property appreciation+$48,883

Loan principal paid down+$19,013

Rental cash flow+$12,000

10-year hold

+$173,495(233.2% ROI)

Projected value

$476,184

Return breakdown

Property appreciation+$104,190

Loan principal paid down+$45,306

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.90ratio

FMR$2,130

Market$2,370

vs market-$240

FMR is below market; voucher rent may lag private rents.

0.90

1 BR

0.87ratio

FMR$2,230

Market$2,550

vs market-$320

FMR is below market; voucher rent may lag private rents.

0.87

2 BR

0.85ratio

FMR$2,650

Market$3,100

vs market-$450

FMR is below market; voucher rent may lag private rents.

0.85

3 BR

0.88ratio

FMR$3,180

Market$3,630

vs market-$450

FMR is below market; voucher rent may lag private rents.

0.88

4 BR

0.81ratio

FMR$3,510

Market$4,350

vs market-$840

FMR is below market; voucher rent may lag private rents.

0.81

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 01931 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 01931 (Gloucester, MA) is $2,650 a month. That is up 3.5% from $2,560 in FY 2026. Gloucester 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, 01931 is tied for the 16th-highest two-bedroom rent (county range $2,080–$3,420). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 01931 is 19% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 01931
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$2,040	$2,130	+4.4%	$1,917–$2,343
1BR	$2,160	$2,230	+3.2%	$2,007–$2,453
2BR	$2,560	$2,650	+3.5%	$2,385–$2,915
3BR	$3,080	$3,180	+3.2%	$2,862–$3,498
4BR	$3,390	$3,510	+3.5%	$3,159–$3,861

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 01931
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$2,130	$2,230	$2,650	$3,180	$3,510
FY 2026	$2,040	$2,160	$2,560	$3,080	$3,390
FY 2025	$2,000	$2,140	$2,550	$3,080	$3,390
FY 2024	$1,830	$1,980	$2,380	$2,890	$3,190
FY 2023	$1,630	$1,790	$2,160	$2,670	$2,930

Two-bedroom rent in nearby Essex County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 01931
01921	$2,650	0.0%
01922	$2,650	0.0%
01923	$2,740	+3.4%
01929	$2,650	0.0%
01930	$2,650	0.0%
01931Current	$2,650	—
01936	$2,650	0.0%
01937	$2,740	+3.4%
01938	$2,650	0.0%
01940	$3,420	+29.1%
01944	$2,660	+0.4%
01945	$2,650	0.0%

Questions about ZIP 01931 rents

How much will Section 8 pay for a two-bedroom in ZIP 01931?

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 $2,650 it would be $2,385 to $2,915. 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 01931 in?

ZIP 01931 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 01931 for FY 2027?

The two-bedroom FMR rose 3.5%, from $2,560 in FY 2026 to $2,650 in FY 2027. Since FY 2023 it has risen 22.7%.

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