Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,480 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,710 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,510 |
| 5 Bedrooms | $2,912 |
| 6 Bedrooms | $3,261 |
| 7 Bedrooms | $3,522 |
| 8 Bedrooms | $3,698 |
U.S. Census Bureau data (2024)
The market in ZIP code 20130, characterized by a Fair Market Rent (FMR) of $2180 for the fiscal year 2024, presents a dynamic environment for landlords and small-portfolio investors. Despite the lack of specific market rent data, the median home value of $656,591 suggests a robust real estate market, indicating that homeownership remains a significant investment opportunity.
The absence of detailed information on price-cut shares and days on market (DOM) limits a precise assessment of supply and demand balance. However, with a renter share of 52.3%, it's evident that nearly half of the households in this area prefer renting over owning. This high proportion of renters can be indicative of long-term housing pressure, as a substantial portion of the population relies on rental properties to meet their housing needs. Landlords can leverage this trend by offering competitive rental options that align with the FMR, ensuring steady occupancy rates.
The FMR serves as a benchmark for affordable rental units, guiding landlords on pricing strategies that cater to both affordability and profitability. While the market rent data is not available, the FMR of $2180 provides a reference point for setting reasonable rental prices. The median home value also signals that there is a strong interest in homeownership, which could influence the rental market indirectly. For instance, potential homeowners who are priced out of the market might continue to rent, further supporting the demand for rental properties.
The dynamics of ZIP 20130 suggest a balanced market, leaning towards demand-driven conditions due to the high renter share. Investors should consider these factors when evaluating the potential returns on rental properties in this area. The reliance on rental housing by such a large percentage of the population underscores the importance of maintaining a diverse portfolio that includes both rental and ownership opportunities.
Data Sources: FMR data from HUD (2027). 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.