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 |
The analysis of ZIP code 20030 in Washington, D.C., reveals several key points regarding its viability for Section 8 landlords and small-portfolio investors.
The first question concerns whether the rent math works. The Fair Market Rent (FMR) for ZIP 20030 in fiscal year 2024 is set at $1980. However, the market rent for the area is not available, which makes it difficult to directly compare the two figures. Despite this lack of information, the FMR provides a solid benchmark for rental pricing.
Regarding the affordability of acquisitions, the median home value and days on the market (DOM) are not specified, nor is the percentage of homes that have been subject to price cuts. Without these details, it's challenging to assess the financial feasibility of purchasing properties in this ZIP code. Landlords should conduct thorough research into local real estate trends to make informed decisions.
Tenant demand is another critical factor. Unfortunately, the population count and the percentage of renters in ZIP 20030 are also not provided. These metrics would typically help gauge the potential occupancy rates and the size of the tenant pool. For accurate planning, investors need to look up the latest demographic data.
In summary, while the Fair Market Rent for ZIP 20030 is clearly defined at $1980, making it a viable option for Section 8 participation, the lack of detailed information on median home values, days on the market, percentage of price cuts, and demographic data complicates a full assessment of property acquisition costs and tenant demand. Investors must gather additional local real estate and population data to make informed decisions about entering this market.
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.