FY2027 Small Area FMR · Lexington, MA

ZIP 02420 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 02420 (Lexington, MA) is $3,860 a month, up 5.8% from FY2026. That is 28% above the Boston-Cambridge-Quincy, MA-NH area-wide FMR of $3,008.

2-bedroom SAFMR$3,860per month ▲ 5.8%

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

Rank in the area23rdof 259 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$3,474

2 BR Small Area FMR$3,860

110% of SAFMR$4,246

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

Studio$3,130▲ 6.8%

1 BR$3,230▲ 5.2%

2 BR$3,860▲ 5.8%

3 BR$4,600▲ 5.0%

4 BR$5,070▲ 5.0%

FY2027 FY2026

Where 02420 sits in the Boston-Cambridge-Quincy, MA-NH area

Of the 259 ZIP codes HUD lists for the area, 02420 has the 23rd 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 $3,860 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	$3,130	$2,817 – $3,443	$2,440	$2,930
1 bedroom	$3,230	$2,907 – $3,553	$2,518	$3,070
2 bedrooms	$3,860	$3,474 – $4,246	$3,008	$3,650
3 bedrooms	$4,600	$4,140 – $5,060	$3,584	$4,380
4 bedrooms	$5,070	$4,563 – $5,577	$3,953	$4,830

A household renting a two-bedroom home at the Small Area FMR of $3,860 needs about $154,400 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 02420 lies mainly in Middlesex 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
02421	Lexington	1.8 mi	$4,130
01731	Hanscom Afb	3.3 mi	$4,510
01803	Burlington	3.3 mi	$3,580
02476	Arlington	3.5 mi	$2,650
01890	Winchester	3.6 mi	$3,170
01801	Woburn	3.8 mi	$3,280

Questions

What is the Fair Market Rent for ZIP code 02420?

HUD's FY2027 Small Area Fair Market Rents for 02420 are $3,130 (studio), $3,230 (1 BR), $3,860 (2 BR), $4,600 (3 BR) and $5,070 (4 BR) a month.

What is the Section 8 payment standard in 02420?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 02420 that range is $3,474 to $4,246 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 02420?

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.