Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,190 |
| 1 Bedroom | $2,290 |
| 2 Bedrooms | $2,530 |
| 3 Bedrooms | $3,230 |
| 4 Bedrooms | $3,800 |
| 5 Bedrooms | $4,408 |
| 6 Bedrooms | $4,937 |
| 7 Bedrooms | $5,332 |
| 8 Bedrooms | $5,599 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,230 | $924,802 | 0.35% | F |
| 4BR | $3,800 | $1,306,815 | 0.29% | F |
| 5BR | $4,408 | $1,516,081 | 0.29% | F |
U.S. Census Bureau data (2024)
The ZIP code 20197 presents a dynamic housing market with distinct characteristics that can be inferred from the available data. The Fair Market Rent (FMR) for ZIP 20197 stands at $2010 for fiscal year 2024, indicating a relatively stable rental environment. However, the absence of specific market rent data suggests a lack of detailed information on current rental trends, which could imply either insufficient data collection or a market that is not heavily analyzed by third parties.
The median home value of $1,307,900 reflects a high-end residential area, likely attracting a mix of homeowners and renters. Given the high median home value, it's reasonable to assume that the cost of homeownership is substantial, potentially leading to a higher concentration of renters who cannot afford to purchase property. This inference is supported by the fact that the renter share is 14.3%, which is relatively low but still significant in a high-value ZIP code.
The lack of data on price-cut share and days on market (DOM) makes it challenging to definitively state whether supply outpaces demand or vice versa. However, the combination of a defined FMR and a high median home value without explicit signs of overstocked inventory or prolonged listings suggests a balanced market where demand meets supply effectively. In such a scenario, landlords and small-portfolio investors can expect steady rental income with limited need for aggressive price adjustments.
The 14.3% renter share also provides insight into the long-term housing pressure within ZIP 20197. While this percentage is not exceptionally high, it points to an ongoing need for rental properties, especially among those who cannot afford the median home value. This dynamic creates a stable foundation for the rental market, ensuring that there will always be a segment of the population seeking rental options. Landlords should focus on maintaining quality and competitive rents to attract tenants in this high-value ZIP code.
In summary, ZIP 20197 operates as a niche market with high property values and a moderate renter share. The absence of certain metrics indicates a less volatile market, which can be advantageous for landlords and small-portfolio investors looking for steady returns. The current FMR and median home value suggest a well-functioning market where both homeowners and renters find suitable opportunities.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.