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 analysis of ZIP code 20239 in the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area reveals several key points for landlords and small-portfolio investors. First, regarding the rent math, the Federal Market Rent (FMR) for the area is set at $1980 for fiscal year 2024. However, without specific data on market rents, it's challenging to definitively state whether the rent math works in favor of landlords. Typically, market rents should be higher than the FMR to ensure profitability.
Second, on the affordability of acquisitions, the lack of detailed data on median home values, days on the market (DOM), and the percentage of homes that require price cuts makes it difficult to assess if the area is cost-effective for property purchases. Investors need accurate information on these metrics to determine if they can acquire properties at reasonable prices and turn them into profitable investments.
Third, concerning tenant demand, the absence of specific population and renter share percentages means we cannot accurately gauge the potential for finding tenants. A high renter share indicates strong demand, which is crucial for rental properties to remain occupied and generate consistent income.
In summary, while the FMR provides a baseline for rental pricing at $1980 per month, the lack of critical data on market rents, median home values, DOM, price-cut shares, population, and renter share percentages hinders a comprehensive assessment of ZIP 20239. To make informed decisions, landlords and investors must seek out the missing data to understand the true economic landscape of the area. Without these specifics, the investment potential remains unclear.
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.