FMR is near market; voucher and private rents are aligned.
1.08
1 BR
1 BR
0.93ratio
FMR$3,770
Market$4,050
vs market-$280
FMR is near market; voucher and private rents are aligned.
0.93
2 BR
2 BR
0.69ratio
FMR$4,510
Market$6,530
vs market-$2,020
FMR is below market; voucher rent may lag private rents.
0.69
3 BR
3 BR
0.54ratio
FMR$5,370
Market$10,000
vs market-$4,630
FMR is below market; voucher rent may lag private rents.
0.54
4 BR
4 BR
1.16ratio
FMR$5,930
Market$5,120
vs market+$810
FMR is above market; underwrite to market rent.
1.16
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
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ZIP 02199 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 02199 (Boston, MA) is $4,510 a month. That is up 2.3% from $4,410 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, 02199 is tied for the highest two-bedroom rent (county range $2,650–$4,510). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 02199 is 103% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 02199
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$3,540
$3,660
+3.4%
$3,294–$4,026
1BR
$3,710
$3,770
+1.6%
$3,393–$4,147
2BR
$4,410
$4,510
+2.3%
$4,059–$4,961
3BR
$5,290
$5,370
+1.5%
$4,833–$5,907
4BR
$5,840
$5,930
+1.5%
$5,337–$6,523
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 02199
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$3,660
$3,770
$4,510
$5,370
$5,930
FY 2026
$3,540
$3,710
$4,410
$5,290
$5,840
FY 2025
$3,400
$3,600
$4,260
$5,130
$5,650
FY 2024
$3,320
$3,570
$4,240
$5,130
$5,650
FY 2023
$3,040
$3,300
$3,950
$4,810
$5,310
Two-bedroom rent in nearby Suffolk County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 02199?
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 $4,510 it would be $4,059 to $4,961. 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 02199 in?
ZIP 02199 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 02199 for FY 2027?
The two-bedroom FMR rose 2.3%, from $4,410 in FY 2026 to $4,510 in FY 2027. Since FY 2023 it has risen 14.2%.
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