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Essex County/Lynnfield/01940

01940

ZIPSAFMR
Essex County, MA
Zillow

ZIP Investment Score

45Below average

095130300
BRFMR
Eff. Rent
0 BR$2,770$2,600
1 BR$2,860$2,680
2 BR$3,420$2,990
3 BR$4,070$3,770
4 BR$4,490$4,040
5 BR$5,164Not available
6 BR$5,938Not available
7 BR$6,829Not available
8 BR$7,853Not available

Purchase Price Calculator

Maximum purchase price
$382,396

Cost breakdown

+Likely effective rent$2,990
HUD FMR$3,420
Market rentUsed$2,990
Est. payment standard (92%)$3,140
-Principal and interest-$1,934
Loan amount$305,917
Down payment$76,479
Rate6.50%
Term30 years
-Operating costs-$856
Property taxes-$382
Insurance-$175
Utilities$0
HOA$0
Management-$299
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$47,563(62.2% ROI)
Projected value
$411,799
Return breakdown
Property appreciation+$29,403
Loan principal paid down+$10,960
Rental cash flow+$7,200
5-year hold
+$81,795(107.0% ROI)
Projected value
$432,646
Return breakdown
Property appreciation+$50,250
Loan principal paid down+$19,545
Rental cash flow+$12,000
10-year hold
+$177,676(232.3% ROI)
Projected value
$489,500
Return breakdown
Property appreciation+$107,103
Loan principal paid down+$46,572
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.07
1 BR
1.07
2 BR
1.14
3 BR
1.08
4 BR
1.11
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 01940 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 01940 (Lynnfield, MA) is $3,420 a month. That is up 5.2% from $3,250 in FY 2026. Lynnfield 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, 01940 has the highest two-bedroom rent (county range $2,080–$3,420). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 01940 is 54% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 01940
BedroomsFY 2027Change90–110% range
Studio$2,770+6.1%$2,493–$3,047
1BR$2,860+4.4%$2,574–$3,146
2BR$3,420+5.2%$3,078–$3,762
3BR$4,070+4.4%$3,663–$4,477
4BR$4,490+4.4%$4,041–$4,939

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 01940
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,770$2,860$3,420$4,070$4,490
FY 2026$2,610$2,740$3,250$3,900$4,300
FY 2025$2,410$2,550$3,020$3,640$4,000
FY 2024$2,390$2,570$3,060$3,700$4,080
FY 2023$2,240$2,440$2,920$3,550$3,920

Two-bedroom rent in nearby Essex County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 01940
01929$2,650−22.5%
01930$2,650−22.5%
01931$2,650−22.5%
01936$2,650−22.5%
01937$2,740−19.9%
01938$2,650−22.5%
01940Current$3,420—
01944$2,660−22.2%
01945$2,650−22.5%
01949$2,650−22.5%
01950$2,650−22.5%
01951$2,740−19.9%

Questions about ZIP 01940 rents

How much will Section 8 pay for a two-bedroom in ZIP 01940?

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 $3,420 it would be $3,078 to $3,762. 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 01940 in?

ZIP 01940 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 01940 for FY 2027?

The two-bedroom FMR rose 5.2%, from $3,250 in FY 2026 to $3,420 in FY 2027. Since FY 2023 it has risen 17.1%.

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