FY2027 Small Area FMR · Peabody, MA

ZIP 01960 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 01960 (Peabody, MA) is $2,650 a month, up 3.5% from FY2026. That is 12% below the Boston-Cambridge-Quincy, MA-NH area-wide FMR of $3,008.

2-bedroom SAFMR$2,650per month ▲ 3.5%

Area-wide 2 BR FMR$3,008Boston-Cambridge-Quincy, MA-

Rank in the area156thof 259 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,385

2 BR Small Area FMR$2,650

110% of SAFMR$2,915

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$2,130▲ 4.4%

1 BR$2,230▲ 3.2%

2 BR$2,650▲ 3.5%

3 BR$3,180▲ 3.2%

4 BR$3,510▲ 3.5%

FY2027 FY2026

Where 01960 sits in the Boston-Cambridge-Quincy, MA-NH area

Of the 259 ZIP codes HUD lists for the area, 01960 has the 156th highest two-bedroom Small Area FMR. Boston-Cambridge-Quincy, MA-NH is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $3,008 for two bedrooms; an agency that opts in to Small Area FMRs would use $2,650 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$2,130	$1,917 – $2,343	$2,440	$2,040
1 bedroom	$2,230	$2,007 – $2,453	$2,518	$2,160
2 bedrooms	$2,650	$2,385 – $2,915	$3,008	$2,560
3 bedrooms	$3,180	$2,862 – $3,498	$3,584	$3,080
4 bedrooms	$3,510	$3,159 – $3,861	$3,953	$3,390

A household renting a two-bedroom home at the Small Area FMR of $2,650 needs about $106,000 a year to keep housing costs at 30% of income. The area median family income is $164,600 and the 80% low-income limit for four people is $137,100. ZIP code 01960 lies mainly in Essex County. See the Boston-Cambridge-Quincy, MA-NH metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
01904	Lynn	2.9 mi	$2,650
01923	Danvers	2.9 mi	$2,740
01940	Lynnfield	3.5 mi	$3,420
01937	Hathorne	3.6 mi	$2,740
01902	Lynn	4.6 mi	$2,650
01905	Lynn	4.7 mi	$2,650

Questions

What is the Fair Market Rent for ZIP code 01960?

HUD's FY2027 Small Area Fair Market Rents for 01960 are $2,130 (studio), $2,230 (1 BR), $2,650 (2 BR), $3,180 (3 BR) and $3,510 (4 BR) a month.

What is the Section 8 payment standard in 01960?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 01960 that range is $2,385 to $2,915 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 01960?

The FY2026 income limits of the Boston-Cambridge-Quincy, MA-NH area apply: median family income $164,600, low-income (80%) limit $137,100 for a family of four.