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 ZIP code 20039 is located in Langley Park, a neighborhood in Washington, DC. Unfortunately, specific demographic data such as population, percentage of renters, median income, and median home value were not readily available for this precise ZIP code. However, we do know that the Fair Market Rent (FMR) for ZIP code 20039 is set at $1980 for fiscal year 2024.
In the absence of direct market rent data for ZIP 20039, nearby areas like Takoma Park provide some context. For example, in Takoma Park, the average market rent ranges from $1,295 to $2,175 for one to three-bedroom apartments. This suggests that the FMR in 20039 is slightly higher than the market rent in adjacent areas, which could be beneficial for landlords participating in the Section 8 program.
Given the limited availability of listings within ZIP 20039, it might be more suitable for hands-on value-add buyers rather than hands-off operators. These buyers can focus on improving properties to meet the needs of tenants while potentially capturing a premium due to the proximity to Washington, DC and the relatively higher FMR. Landlords should consider the potential for gentrification and the demand for affordable housing in the area when making investment decisions.
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.