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Housing market/Massachusetts/ZIP 02421

ACS 2023 · FY2027 SAFMR

ZIP 02421 Lexington, Massachusetts

Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area · Massachusetts. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
17,798
Households
6,765
Median HH income
$212,843
Renter share
23.7%
Median gross rent
$2,847
Vacancy
2.1%
Pop. change
-6.3%
2BR SAFMR
$4,130
SAFMR / rent
1.451×
2–49 unit stock
1,145
LIHTC proj / units
1 / 102
HUD assisted MF
—

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 02421 · MA — sent to you.

ZIP 02421 · MA

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ACS rent vs 2BR SAFMR

ZIP 02421 — Lexington, MA HUD Section 8 Payment Standards / SAFMR →
ACS median rent$2,847
2BR SAFMR$4,130
90% floor$3,717
110% ceiling$4,543

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 02421

  • 1-unit detached4,74268.6%
  • 1-unit attached5197.5%
  • 2–4 units3404.9%
  • 5–49 units80511.6%
  • 50+ units5077.3%
TypeUnitsShare
1-unit detached4,74268.6%
1-unit attached5197.5%
2 units (duplex)861.2%
3–4 units2543.7%
5–9 units1982.9%
10–19 units3705.4%
20–49 units2373.4%
50+ units5077.3%
Mobile00.0%

2–4 unit share 4.9% · 5–49 unit share 11.6% · combined 2–49 16.6%.

Units by bedrooms

Studio
106
1BR
779
2BR
1,087
3BR
1,960
4BR
1,737
5+
1,244

Rent burden

Rent ≥30% of income50.5%
Rent ≥50% of income30.2%
  • ACS median gross rent $2,847 (all bedrooms, occupied rentals).
  • Median contract rent $2,779.
  • Renters paying ≥30% of income 50.5%; ≥50% 30.2%.
  • FY2027 2BR SAFMR $4,130 (1.451× ACS median gross rent).

Population

17,798 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: -6.3%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 1 projects, 102 units.
  • HUD project-based assisted MF: not published for this ZIP.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 1,372 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 02421 23.7% of occupied households are renters; vacancy is 2.1%; ACS median gross rent is $2,847; population changed -6.3% between the 2018 and 2023 ACS vintages; the housing stock includes 340 units in 2–4-unit structures and 805 units in 5–49-unit structures; 1 LIHTC projects totaling 102 units; FY2027 2BR SAFMR is $4,130 versus ACS median gross rent of $2,847. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Massachusetts research

ZIP 02421 is a Census / HUD profile for Boston-Cambridge-Quincy, MA-NH, MA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 02421 — Lexington, MA HUD Section 8 Payment Standards / SAFMR·Massachusetts ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
01464Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area17.7%$1,189$2,65001469Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area15.7%$1,121$2,65001474Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area17.3%$2,368$3,40001701Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area21.8%$1,973$2,82001702Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area65.7%$1,822$2,81001703Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area——$3,05001704Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area——$3,05001718Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area3.7%—$2,66001719Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area22.7%$1,816$2,65001720Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area24.6%$1,908$2,66001721Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area24.5%$2,334$3,34001731Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area100.0%$3,501$4,510

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Massachusetts research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 02421?

ZIP 02421 (Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area) has 17,798 residents, 6,765 households, a renter share of 23.7%, median household income of $212,843, and ACS 2023 median gross rent of $2,847. Vacancy is 2.1%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 02421?

ACS counts 86 units in 2-unit buildings, 254 in 3–4 unit buildings, 198 in 5–9, 370 in 10–19, and 237 in 20–49. Combined 2–49 unit stock is 1,145 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 02421?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $4,130. See the full schedule and 90–110% payment-standard band on the ZIP 02421 — Lexington, MA HUD Section 8 Payment Standards / SAFMR.

Does this Massachusetts ZIP profile include Georgia listings?

No. ZIP 02421 is Census / HUD research for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area. Jeff Crowe CRE does not list Massachusetts property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.