Section 8 Fair Market Rent (FMR) for ZIP 20167 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 20167 in Unknown, DC for fiscal year 2024 is set at $2240. This figure represents the payment standard for Section 8 housing assistance, meaning it's the maximum amount the government will pay on behalf of eligible tenants. It's important to note that this is not the rent you can charge your tenant; rather, it caps the portion paid by the housing authority.

While the local median rent is listed as N/A, indicating incomplete data, we can still assess the potential demand for Section 8 rentals. The renter share in this area is N/A%, which suggests a significant portion of residents rely on rental properties. This high dependency on rentals supports the idea that there is likely a strong demand for affordable housing options, including those under Section 8.

When it comes to acquiring a property for a Section 8 rental in ZIP 20167, the average home price is also noted as N/A. This lack of specific data makes it challenging to provide a precise figure, but it underscores the need to conduct thorough research on property values and costs in the area before making an investment.

To ensure you're making a sound decision, verify the condition of the property you're considering. Section 8 requires that all rental units meet certain quality standards known as Housing Quality Standards (HQS). These standards ensure the unit is safe, decent, and sanitary for tenants. While this might seem obvious, many first-time Section 8 landlords overlook this crucial step, leading to delays in approval and potential loss of rental income.

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.