FMR is near market; voucher and private rents are aligned.
0.97
2 BR
2 BR
0.96ratio
FMR$3,050
Market$3,180
vs market-$130
FMR is near market; voucher and private rents are aligned.
0.96
3 BR
3 BR
0.89ratio
FMR$3,630
Market$4,060
vs market-$430
FMR is below market; voucher rent may lag private rents.
0.89
4 BR
4 BR
0.86ratio
FMR$4,010
Market$4,660
vs market-$650
FMR is below market; voucher rent may lag private rents.
0.86
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 02454 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 02454 (Waltham, MA) is $3,050 a month. That is up 2.3% from $2,980 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, 02454 is tied for the 50th-highest two-bedroom rent (county range $2,240–$4,510). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 02454 is 37% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 02454
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,390
$2,470
+3.3%
$2,223–$2,717
1BR
$2,510
$2,550
+1.6%
$2,295–$2,805
2BR
$2,980
$3,050
+2.3%
$2,745–$3,355
3BR
$3,570
$3,630
+1.7%
$3,267–$3,993
4BR
$3,950
$4,010
+1.5%
$3,609–$4,411
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 02454
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,470
$2,550
$3,050
$3,630
$4,010
FY 2026
$2,390
$2,510
$2,980
$3,570
$3,950
FY 2025
$2,300
$2,430
$2,880
$3,470
$3,820
FY 2024
$2,250
$2,410
$2,870
$3,470
$3,820
FY 2023
$2,050
$2,230
$2,670
$3,250
$3,590
Two-bedroom rent in nearby Middlesex County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 02454?
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 $3,050 it would be $2,745 to $3,355. 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 02454 in?
ZIP 02454 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 02454 for FY 2027?
The two-bedroom FMR rose 2.3%, from $2,980 in FY 2026 to $3,050 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