FY2024 Fair Market Rents — Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area

The HUD-published Fair Market Rents for FY2024 in this area are:

Studio
$1,759
1BR
$2,016
2BR
$2,459
3BR
$3,097
4BR
$3,422
Hours/week at min wage
127 hrs
to afford the 2BR FMR @ $15.00/hr (MA)
National rank
#19
of 646 U.S. metros (top 4% most expensive)
YoY change (2BR)
+2.6%
+$62 vs FY2023 · 5-yr +13.5%
Voucher payment standard
$2,213–$2,705
PHAs set HCV payment at 90–110% of the 2BR FMR

Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area

Metropolitan area · MA · View full history · Income limits · LIHTC rents

FY2024 Fair Market Rents

Bedroom Size Monthly FMR Annual Equivalent
Efficiency (Studio) $1,759 $21,108
1-Bedroom $2,016 $24,192
2-Bedroom $2,459 $29,508
3-Bedroom $3,097 $37,164
4-Bedroom $3,422 $41,064

Recent 2-Bedroom FMR Trend

FY2018 $2,112 → FY2024 $2,459
Fiscal Year Studio 1BR 2BR 3BR 4BR
FY2024 $1,759 $2,016 $2,459 $3,097 $3,422
FY2023 $1,773 $2,085 $2,397 $3,116 $3,547
FY2022 $1,729 $2,033 $2,337 $3,038 $3,458
FY2021 $1,686 $1,982 $2,279 $2,962 $3,372
FY2020 $1,644 $1,933 $2,222 $2,888 $3,288
FY2019 $1,602 $1,884 $2,166 $2,815 $3,205
FY2018 $1,562 $1,837 $2,112 $2,745 $3,125

View full FMR history back to FY2000 →

FY2024 Income Limits

Area Median Income (AMI): $115,200

AMI Level 1p 2p 3p 4p 5p 6p
30% AMI (Extremely Low) $24,192 $27,648 $31,104 $34,560 $37,324 $40,089
50% AMI (Very Low) $40,320 $46,080 $51,840 $57,600 $62,208 $66,816
80% AMI (Low) $64,511 $73,728 $82,944 $92,160 $99,532 $106,905

Full income limits table (all 8 household sizes) →

Affordability Snapshot

2BR Annual FMR
$29,508/yr
FMR as % of Area Median Income
25.6% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$98,360/yr
$8,197/mo gross income

FY2024 LIHTC Maximum Rents

Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →

AMI Band Studio 1BR 2BR 3BR 4BR
50% AMI Maximum $1,008 $1,152 $1,296 $1,555 $1,670
60% AMI Maximum $1,209 $1,382 $1,555 $1,866 $2,004

FY2024 HOME Program Rent Limits

Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →

Limit Type Studio 1BR 2BR 3BR 4BR
High HOME Rent $1,759 $1,872 $1,872 $1,872 $1,872
Low HOME Rent $1,008 $1,152 $1,296 $1,440 $1,555

Compare Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area With Other MA Metros

vs. Amherst Town-Northampton, MA MSA vs. Barnstable Town, MA MSA vs. Berkshire County, MA (part) HUD Metro FMR Area vs. Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area vs. Brockton, MA HUD Metro FMR Area

Counties in This FMR Area

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