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Suffolk County/Boston/02116

02116

ZIPSAFMR
Suffolk County, MA
Zillow

ZIP Investment Score

18Below average

095130300
BRFMR
Eff. Rent
0 BR$3,350$2,770
1 BR$3,460$3,560
2 BR$4,130$4,540
3 BR$4,920$5,410
4 BR$5,430$5,970
5 BR$6,244Not available
6 BR$7,181Not available
7 BR$8,258Not available
8 BR$9,497Not available

Purchase Price Calculator

Maximum purchase price
$612,726

Cost breakdown

+Likely effective rent$4,540
HUD FMR$4,130
Market rent$5,760
Est. payment standard (110%)Used$4,540
-Principal and interest-$3,098
Loan amount$490,181
Down payment$122,545
Rate6.50%
Term30 years
-Operating costs-$1,242
Property taxes-$613
Insurance-$175
Utilities$0
HOA$0
Management-$454
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$71,875(58.7% ROI)
Projected value
$659,839
Return breakdown
Property appreciation+$47,113
Loan principal paid down+$17,562
Rental cash flow+$7,200
5-year hold
+$123,835(101.1% ROI)
Projected value
$693,243
Return breakdown
Property appreciation+$80,517
Loan principal paid down+$31,318
Rental cash flow+$12,000
10-year hold
+$270,239(220.5% ROI)
Projected value
$784,341
Return breakdown
Property appreciation+$171,615
Loan principal paid down+$74,624
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.21
1 BR
0.96
2 BR
0.72
3 BR
0.67
4 BR
0.58
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 02116 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 02116 (Boston, MA) is $4,130 a month. That is down 1.0% from $4,170 in FY 2026. Boston 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 53 ZIP codes in Suffolk County, 02116 has the 8th-highest two-bedroom rent (county range $2,650–$4,510). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 02116 is 86% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 02116
BedroomsFY 2027Change90–110% range
Studio$3,350+0.3%$3,015–$3,685
1BR$3,460−1.4%$3,114–$3,806
2BR$4,130−1.0%$3,717–$4,543
3BR$4,920−1.6%$4,428–$5,412
4BR$5,430−1.6%$4,887–$5,973

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 02116
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$3,350$3,460$4,130$4,920$5,430
FY 2026$3,340$3,510$4,170$5,000$5,520
FY 2025$3,310$3,500$4,150$5,000$5,500
FY 2024$3,290$3,540$4,210$5,090$5,610
FY 2023$2,910$3,160$3,790$4,610$5,090

Two-bedroom rent in nearby Suffolk County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 02116
02110$4,510+9.2%
02111$3,620−12.3%
02112$3,110−24.7%
02113$3,820−7.5%
02114$4,380+6.1%
02115$3,600−12.8%
02116Current$4,130—
02117$3,110−24.7%
02118$3,040−26.4%
02119$2,650−35.8%
02120$2,870−30.5%
02121$2,650−35.8%

Questions about ZIP 02116 rents

How much will Section 8 pay for a two-bedroom in ZIP 02116?

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 $4,130 it would be $3,717 to $4,543. 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 02116 in?

ZIP 02116 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 02116 for FY 2027?

The two-bedroom FMR fell 1.0%, from $4,170 in FY 2026 to $4,130 in FY 2027. Since FY 2023 it has risen 9.0%.

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