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 20040 is located in Langley Park, a neighborhood in Washington, DC. Unfortunately, specific demographic data such as population size, percentage of renters, median income, and median home value are not available at this time.
However, we can look at the rental market dynamics. According to the Fair Market Rent (FMR) data, the FMR for ZIP code 20040 in fiscal year 2024 is set at $1980. This figure represents the government's estimate of the maximum amount that a low-income family should pay for rent and utilities. When comparing this to the actual market rents, we see a variety of rates. For example, some listings show rents ranging from $1,500 to $3,900 per month, indicating a diverse market.
Given the limited availability of listings within the ZIP code itself, it suggests that the area might be less attractive for hands-off voucher operators who rely on consistent demand. Instead, the neighborhood appears to be better suited for hands-on value-add buyers who can invest in improving properties to meet the needs of a varied tenant base. These buyers could potentially capture a portion of the market where rents exceed the FMR, thereby maximizing their investment returns.
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.