Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,050 |
| 1 Bedroom | $2,140 |
| 2 Bedrooms | $2,370 |
| 3 Bedrooms | $3,020 |
| 4 Bedrooms | $3,560 |
| 5 Bedrooms | $4,130 |
| 6 Bedrooms | $4,626 |
| 7 Bedrooms | $4,996 |
| 8 Bedrooms | $5,246 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,140 | $275,117 | 0.78% | D |
| 2BR | $2,370 | $791,083 | 0.3% | F |
| 3BR | $3,020 | $1,211,708 | 0.25% | F |
| 4BR | $3,560 | $1,460,032 | 0.24% | F |
| 5BR | $4,130 | $1,846,123 | 0.22% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 20015, Washington, DC, presents a robust environment for landlords and small-portfolio investors. With a median home value of $1,387,959, the area is characterized by high-end residential properties. Only 0.1% of listings have reduced their asking price, indicating strong seller's market conditions and suggesting that landlords can maintain competitive rental rates without significant concessions.
The median days on market (DOM) being listed as N/A suggests that homes are selling very quickly, often before reaching a typical DOM count. This rapid turnover signals a high demand for housing in the area, further reinforcing the notion that landlords can command premium rents. The gap between the Fair Market Rent (FMR) at $2,000 and the actual market rate of $2,149 (as measured by ZORI) for ZIP 20015 in fiscal year 2024, indicates that there is a slight premium above government standards that tenants are willing to pay. This suggests that landlords can maintain current rental rates or even slightly increase them without fear of losing tenants.
For long-hold investors, the setup implies a stable appreciation thesis. Given the consistent high demand for both ownership and rental properties, coupled with limited reductions in listing prices, it is reasonable to expect continued growth in property values. However, the pace of appreciation is likely to be moderate rather than explosive, reflecting a mature market where incremental gains are the norm. Investors should focus on cash flow and long-term capital appreciation, rather than short-term speculative gains.
In summary, the current pricing power in ZIP 20015, supported by high median home values and rapid sales, positions landlords and small-portfolio investors well for maintaining or slightly increasing rental rates. The market signals a stable and potentially growing environment for real estate investments, making it an attractive option for those looking to build a steady portfolio in the Washington, DC, area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.