Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,080 |
| 1 Bedroom | $2,170 |
| 2 Bedrooms | $2,400 |
| 3 Bedrooms | $3,060 |
| 4 Bedrooms | $3,600 |
| 5 Bedrooms | $4,176 |
| 6 Bedrooms | $4,677 |
| 7 Bedrooms | $5,051 |
| 8 Bedrooms | $5,304 |
ZIP code 20027, located in Unknown, DC, falls within the larger Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 20027 is set at $1980 for fiscal year 2024. This figure is critical for landlords and small-portfolio investors who participate in the Section 8 housing choice voucher program.
Comparatively, the typical ZIP codes within the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area exhibit higher market rents and home values, although specific figures for ZIP 20027's market rent and home value are not available. The lack of data on market rent and home values suggests that 20027 might be an outlier or a niche area within the broader metro region.
The absence of data regarding the renter share percentage in ZIP 20027 makes it challenging to draw direct comparisons with other areas within the same metro. However, the FMR of $1980 can be used as a benchmark to assess the potential attractiveness of this ZIP code for Section 8 participants.
Given the relatively lower FMR compared to what is typically seen in more affluent areas of the metro, ZIP 20027 could be considered a value pocket for Section 8 tenants. Value pockets are areas where the cost of living is lower than the metro average, making them attractive for individuals seeking affordable housing options.
In conclusion, while specific market data is unavailable for ZIP 20027, its FMR of $1980 suggests it offers a more budget-friendly option within the expensive Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area. This characteristic aligns with the profile of a value pocket, beneficial for those on fixed incomes or seeking affordable rental properties.
Data Sources: FMR data from HUD (2027).
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.