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Middlesex County/Lexington/02421

02421

ZIPSAFMR
Middlesex County, MA
Zillow

ZIP Investment Score

42Below average

095130300
BRFMR
Eff. Rent
0 BR$3,350$2,380
1 BR$3,460$2,730
2 BR$4,130$3,620
3 BR$4,920$4,560
4 BR$5,430$5,370
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
$476,014

Cost breakdown

+Likely effective rent$3,620
HUD FMR$4,130
Market rentUsed$3,620
Est. payment standard (92%)$3,800
-Principal and interest-$2,407
Loan amount$380,811
Down payment$95,203
Rate6.50%
Term30 years
-Operating costs-$1,013
Property taxes-$476
Insurance-$175
Utilities$0
HOA$0
Management-$362
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$57,445(60.3% ROI)
Projected value
$512,615
Return breakdown
Property appreciation+$36,601
Loan principal paid down+$13,644
Rental cash flow+$7,200
5-year hold
+$98,882(103.9% ROI)
Projected value
$538,566
Return breakdown
Property appreciation+$62,552
Loan principal paid down+$24,330
Rental cash flow+$12,000
10-year hold
+$215,298(226.1% ROI)
Projected value
$609,338
Return breakdown
Property appreciation+$133,324
Loan principal paid down+$57,974
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.41
1 BR
1.27
2 BR
1.14
3 BR
1.08
4 BR
1.01
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 02421 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 02421 (Lexington, MA) is $4,130 a month. That is down 1.7% from $4,200 in FY 2026. Lexington 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 107 ZIP codes in Middlesex County, 02421 has the 6th-highest two-bedroom rent (county range $2,240–$4,510). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 02421 is 86% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 02421
BedroomsFY 2027Change90–110% range
Studio$3,350−0.6%$3,015–$3,685
1BR$3,460−2.3%$3,114–$3,806
2BR$4,130−1.7%$3,717–$4,543
3BR$4,920−2.4%$4,428–$5,412
4BR$5,430−2.3%$4,887–$5,973

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 02421
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$3,350$3,460$4,130$4,920$5,430
FY 2026$3,370$3,540$4,200$5,040$5,560
FY 2025$3,360$3,550$4,210$5,070$5,580
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 Middlesex County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 02421
02420$3,860−6.5%
02421Current$4,130—
02451$3,640−11.9%
02452$3,190−22.8%
02453$3,160−23.5%
02454$3,050−26.2%
02455$3,050−26.2%
02458$3,150−23.7%
02459$3,300−20.1%
02460$3,530−14.5%
02461$4,340+5.1%
02462$3,640−11.9%

Questions about ZIP 02421 rents

How much will Section 8 pay for a two-bedroom in ZIP 02421?

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 02421 in?

ZIP 02421 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 02421 for FY 2027?

The two-bedroom FMR fell 1.7%, from $4,200 in FY 2026 to $4,130 in FY 2027. Since FY 2023 it has risen 4.6%.

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