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Middlesex County/Waltham/02451

02451

ZIPSAFMR
Middlesex County, MA
Zillow

ZIP Investment Score

71Below average

095130300
BRFMR
Eff. Rent
0 BR$2,950$2,610
1 BR$3,050$3,030
2 BR$3,640$3,730
3 BR$4,340$4,300
4 BR$4,780$4,280
5 BR$5,497Not available
6 BR$6,322Not available
7 BR$7,270Not available
8 BR$8,360Not available

Purchase Price Calculator

Maximum purchase price
$492,360

Cost breakdown

+Likely effective rent$3,730
HUD FMR$3,640
Market rent$3,780
Est. payment standard (103%)Used$3,730
-Principal and interest-$2,490
Loan amount$393,888
Down payment$98,472
Rate6.50%
Term30 years
-Operating costs-$1,040
Property taxes-$492
Insurance-$175
Utilities$0
HOA$0
Management-$373
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$59,170(60.1% ROI)
Projected value
$530,218
Return breakdown
Property appreciation+$37,858
Loan principal paid down+$14,112
Rental cash flow+$7,200
5-year hold
+$101,866(103.4% ROI)
Projected value
$557,060
Return breakdown
Property appreciation+$64,700
Loan principal paid down+$25,166
Rental cash flow+$12,000
10-year hold
+$221,867(225.3% ROI)
Projected value
$630,262
Return breakdown
Property appreciation+$137,902
Loan principal paid down+$59,965
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.13
1 BR
1.01
2 BR
0.96
3 BR
1.01
4 BR
1.12
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 02451 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 02451 (Waltham, MA) is $3,640 a month. That is up 3.4% from $3,520 in FY 2026. Waltham 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, 02451 is tied for the 14th-highest two-bedroom rent (county range $2,240–$4,510). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 02451 is 64% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 02451
BedroomsFY 2027Change90–110% range
Studio$2,950+4.6%$2,655–$3,245
1BR$3,050+3.0%$2,745–$3,355
2BR$3,640+3.4%$3,276–$4,004
3BR$4,340+2.8%$3,906–$4,774
4BR$4,780+2.6%$4,302–$5,258

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 02451
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,950$3,050$3,640$4,340$4,780
FY 2026$2,820$2,960$3,520$4,220$4,660
FY 2025$2,650$2,800$3,320$4,000$4,400
FY 2024$2,520$2,710$3,220$3,890$4,290
FY 2023$2,310$2,500$3,000$3,650$4,030

Two-bedroom rent in nearby Middlesex County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 02451
02451Current$3,640—
02452$3,190−12.4%
02453$3,160−13.2%
02454$3,050−16.2%
02455$3,050−16.2%
02458$3,150−13.5%
02459$3,300−9.3%
02460$3,530−3.0%
02461$4,340+19.2%
02462$3,6400.0%
02464$3,370−7.4%
02465$3,120−14.3%

Questions about ZIP 02451 rents

How much will Section 8 pay for a two-bedroom in ZIP 02451?

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 $3,640 it would be $3,276 to $4,004. 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 02451 in?

ZIP 02451 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 02451 for FY 2027?

The two-bedroom FMR rose 3.4%, from $3,520 in FY 2026 to $3,640 in FY 2027. Since FY 2023 it has risen 21.3%.

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