Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,650 |
| 1 Bedroom | $1,720 |
| 2 Bedrooms | $1,900 |
| 3 Bedrooms | $2,420 |
| 4 Bedrooms | $2,850 |
| 5 Bedrooms | $3,306 |
| 6 Bedrooms | $3,703 |
| 7 Bedrooms | $3,999 |
| 8 Bedrooms | $4,199 |
The market in ZIP code 20139, located in Washington D.C., presents a dynamic scenario that is indicative of shifting housing pressures. The Fair Market Rent (FMR) for the area is set at $1620 for fiscal year 2024, providing a benchmark for rental costs. However, the absence of data on current market rents suggests a lack of recent activity, which could mean that the market is either stable or has limited fluctuations.
The FMR figure stands alone without corresponding data on market rents, days on market (DOM), or median home values. This gap in information points to an incomplete picture of the local real estate landscape. Typically, when the FMR is significantly lower than market rents, it indicates a situation where demand may be outpacing supply, leading to higher rental prices. Conversely, if market rents were available and they were notably below the FMR, it might suggest that there is an oversupply of rental units, putting downward pressure on prices.
The absence of data on the percentage of homes sold at a price cut and the days on market (DOM) further complicates the analysis. These metrics would normally help to understand how quickly properties are selling and whether sellers are having to reduce their asking prices to attract buyers. With these figures missing, it's challenging to determine the speed of transactions or the competitiveness of the market.
The median home value being listed as N/A is another critical piece of information that is lacking. Median home values can give insight into the overall health and growth of the housing market. If the median home value was known and increasing, it would indicate rising property values, potentially signaling strong demand. A decreasing median home value might suggest an excess of supply or other economic factors affecting the area negatively.
The N/A% renter share is particularly telling. In a broader context, a high percentage of renters often correlates with long-term housing pressure. This pressure can arise from factors such as affordability, lifestyle choices, or the availability of rental properties versus owner-occupied homes. Without knowing the exact percentage of renters in ZIP 20139, it's difficult to assess the balance between renters and homeowners, but the fact that it's unknown implies that the area may have a mixed housing composition that doesn't clearly favor one over the other.
In summary, while the FMR provides a fixed point of reference, the lack of other key metrics makes it hard to definitively state whether supply or demand is currently driving the market. The incomplete data set suggests that ZIP 20139 is experiencing a complex interplay of forces, requiring careful monitoring of future trends to better understand its trajectory.
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.