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Suffolk County/Boston/02118

02118

ZIPSAFMR
Suffolk County, MA
Zillow

ZIP Investment Score

15Below average

095130300
BRFMR
Eff. Rent
0 BR$2,470$2,720
1 BR$2,540$2,790
2 BR$3,040$3,340
3 BR$3,620$3,980
4 BR$4,000$4,400
5 BR$4,600Not available
6 BR$5,290Not available
7 BR$6,083Not available
8 BR$6,996Not available

Purchase Price Calculator

Maximum purchase price
$434,406

Cost breakdown

+Likely effective rent$3,340
HUD FMR$3,040
Market rent$4,590
Est. payment standard (110%)Used$3,340
-Principal and interest-$2,197
Loan amount$347,525
Down payment$86,881
Rate6.50%
Term30 years
-Operating costs-$943
Property taxes-$434
Insurance-$175
Utilities$0
HOA$0
Management-$334
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$53,053(61.1% ROI)
Projected value
$467,808
Return breakdown
Property appreciation+$33,402
Loan principal paid down+$12,451
Rental cash flow+$7,200
5-year hold
+$91,288(105.1% ROI)
Projected value
$491,491
Return breakdown
Property appreciation+$57,085
Loan principal paid down+$22,203
Rental cash flow+$12,000
10-year hold
+$198,577(228.6% ROI)
Projected value
$556,077
Return breakdown
Property appreciation+$121,670
Loan principal paid down+$52,907
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.74
1 BR
0.67
2 BR
0.66
3 BR
0.60
4 BR
0.65
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 02118 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 02118 (Boston, MA) is $3,040 a month. That is up 15.6% from $2,630 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, 02118 has the 35th-highest two-bedroom rent (county range $2,650–$4,510). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 02118 is 37% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 02118
BedroomsFY 2027Change90–110% range
Studio$2,470+17.1%$2,223–$2,717
1BR$2,540+14.9%$2,286–$2,794
2BR$3,040+15.6%$2,736–$3,344
3BR$3,620+14.9%$3,258–$3,982
4BR$4,000+14.9%$3,600–$4,400

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 02118
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,470$2,540$3,040$3,620$4,000
FY 2026$2,110$2,210$2,630$3,150$3,480
FY 2025$2,000$2,140$2,550$3,080$3,390
FY 2024$2,130$2,290$2,720$3,290$3,620
FY 2023$2,270$2,460$2,950$3,590$3,960

Two-bedroom rent in nearby Suffolk County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 02118
02112$3,110+2.3%
02113$3,820+25.7%
02114$4,380+44.1%
02115$3,600+18.4%
02116$4,130+35.9%
02117$3,110+2.3%
02118Current$3,040—
02119$2,650−12.8%
02120$2,870−5.6%
02121$2,650−12.8%
02122$2,940−3.3%
02123$3,110+2.3%

Questions about ZIP 02118 rents

How much will Section 8 pay for a two-bedroom in ZIP 02118?

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 $3,040 it would be $2,736 to $3,344. 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 02118 in?

ZIP 02118 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 02118 for FY 2027?

The two-bedroom FMR rose 15.6%, from $2,630 in FY 2026 to $3,040 in FY 2027. Since FY 2023 it has risen 3.1%.

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