Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 02584 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 02584 (Nantucket, MA) is $3,600 a month. That is up 14.6% from $3,140 in FY 2026. Nantucket is in the Nantucket County, MA non-metropolitan 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 county-wide two-bedroom FMR of $3,583. Among 3 ZIP codes in Nantucket County, 02584 is tied for the highest two-bedroom rent (county range $3,600–$3,600). The median county two-bedroom FMR in Massachusetts is $2,222, so ZIP 02584 is 62% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 02584
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,410
$2,510
+4.1%
$2,259–$2,761
1BR
$2,430
$2,750
+13.2%
$2,475–$3,025
2BR
$3,140
$3,600
+14.6%
$3,240–$3,960
3BR
$4,150
$4,290
+3.4%
$3,861–$4,719
4BR
$5,260
$5,420
+3.0%
$4,878–$5,962
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 02584
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,510
$2,750
$3,600
$4,290
$5,420
FY 2026
$2,410
$2,430
$3,140
$4,150
$5,260
FY 2025
$2,300
$2,430
$2,840
$3,420
$4,770
FY 2024area FMR
$1,910
$1,922
$2,526
$3,096
$3,423
FY 2023area FMR
$1,750
$2,009
$2,618
$3,219
$3,580
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about ZIP 02584 rents
How much will Section 8 pay for a two-bedroom in ZIP 02584?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $3,583, which applies unless the housing authority uses Small Area FMRs, that basic range is $3,225 to $3,941 a month; under the ZIP-level Small Area FMR of $3,600 it would be $3,240 to $3,960. 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 02584 in?
ZIP 02584 is in the Nantucket County, MA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $3,583.
How much did fair market rent change in ZIP 02584 for FY 2027?
The two-bedroom FMR rose 14.6%, from $3,140 in FY 2026 to $3,600 in FY 2027. Since FY 2025 it has risen 26.8%.
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