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Suffolk County/East Boston/02128

02128

ZIPSAFMR
Suffolk County, MA
Zillow

ZIP Investment Score

66Below average

095130300
BRFMR
Eff. Rent
0 BR$2,350$2,220
1 BR$2,430$2,570
2 BR$2,900$3,190
3 BR$3,460$3,660
4 BR$3,810$3,990
5 BR$4,382Not available
6 BR$5,039Not available
7 BR$5,795Not available
8 BR$6,664Not available

Purchase Price Calculator

Maximum purchase price
$412,116

Cost breakdown

+Likely effective rent$3,190
HUD FMR$2,900
Market rent$3,500
Est. payment standard (110%)Used$3,190
-Principal and interest-$2,084
Loan amount$329,693
Down payment$82,423
Rate6.50%
Term30 years
-Operating costs-$906
Property taxes-$412
Insurance-$175
Utilities$0
HOA$0
Management-$319
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$50,700(61.5% ROI)
Projected value
$443,804
Return breakdown
Property appreciation+$31,688
Loan principal paid down+$11,812
Rental cash flow+$7,200
5-year hold
+$87,220(105.8% ROI)
Projected value
$466,272
Return breakdown
Property appreciation+$54,155
Loan principal paid down+$21,064
Rental cash flow+$12,000
10-year hold
+$189,619(230.1% ROI)
Projected value
$527,544
Return breakdown
Property appreciation+$115,427
Loan principal paid down+$50,192
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.06
1 BR
0.92
2 BR
0.83
3 BR
0.92
4 BR
0.93
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 02128 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 02128 (East Boston, MA) is $2,900 a month. That is up 5.8% from $2,740 in FY 2026. East 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, 02128 is tied for the 41st-highest two-bedroom rent (county range $2,650–$4,510). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 02128 is 31% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 02128
BedroomsFY 2027Change90–110% range
Studio$2,350+6.8%$2,115–$2,585
1BR$2,430+5.2%$2,187–$2,673
2BR$2,900+5.8%$2,610–$3,190
3BR$3,460+5.2%$3,114–$3,806
4BR$3,810+5.0%$3,429–$4,191

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 02128
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,350$2,430$2,900$3,460$3,810
FY 2026$2,200$2,310$2,740$3,290$3,630
FY 2025$2,040$2,160$2,560$3,080$3,390
FY 2024$2,000$2,140$2,550$3,080$3,400
FY 2023$1,850$2,010$2,410$2,930$3,240

Two-bedroom rent in nearby Suffolk County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 02128
02122$2,940+1.4%
02123$3,110+7.2%
02124$2,650−8.6%
02125$2,650−8.6%
02126$2,650−8.6%
02127$4,160+43.4%
02128Current$2,900—
02129$3,620+24.8%
02130$3,570+23.1%
02131$2,960+2.1%
02132$2,940+1.4%
02133$3,880+33.8%

Questions about ZIP 02128 rents

How much will Section 8 pay for a two-bedroom in ZIP 02128?

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 $2,900 it would be $2,610 to $3,190. 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 02128 in?

ZIP 02128 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 02128 for FY 2027?

The two-bedroom FMR rose 5.8%, from $2,740 in FY 2026 to $2,900 in FY 2027. Since FY 2023 it has risen 20.3%.

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