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 20391 within the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area reveals several key points that are crucial for landlords and small-portfolio investors.
The Fair Market Rent (FMR) for ZIP 20391 is set at $1980 for fiscal year 2024. However, the market rent data for this area is currently unavailable, making it difficult to directly compare the two figures. Without this comparison, it's challenging to determine if the rent math works in favor of landlords or tenants based on the FMR alone.
Regarding the affordability of acquisitions, the data also lacks specifics on the median home value, days on the market (DOM), and the percentage of homes that require a price cut. This absence of information means that potential investors cannot accurately gauge whether the purchase price of properties in ZIP 20391 aligns with their investment criteria. The inability to assess these metrics leaves a significant gap in understanding the local real estate market dynamics.
Tenant demand is another critical factor. While the exact population and the percentage of renters in ZIP 20391 are not provided, these numbers would typically indicate the size of the rental market and the proportion of residents who are likely to seek housing through renting. Without these figures, it's impossible to quantify the demand for rental properties in the area, which is essential for predicting occupancy rates and rental income stability.
In conclusion, while the Fair Market Rent for ZIP 20391 is established at $1980 for fiscal year 2024, the lack of comprehensive data on market rents, median home values, days on the market, the need for price cuts, and tenant demographics makes it difficult to provide a definitive analysis on the viability of investing in this area. Landlords and investors should seek out more detailed local market reports to make informed decisions about potential investments in ZIP 20391.
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.