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 HUD Fair Market Rent (FMR) for ZIP code 20522 in the Washington-Arlington-Alexandria County area for fiscal year 2024 is set at $1980. This figure represents the maximum amount that voucher holders can pay towards their monthly rent. However, without specific market rent data for the area, it's challenging to make a direct comparison. Based on the typical relationship between HUD FMR and market rents in similar metropolitan areas, it's reasonable to assume that voucher tenants would likely cashflow marginally in this ZIP code, especially considering the high cost of living in the Washington, D.C., area.
The median home value for ZIP code 20522 is not available, which makes deriving an exact rent-to-price ratio impossible. Nonetheless, the lack of such data could imply that the area is primarily rental-focused or has limited housing sales data, which might affect the investment strategy for those looking to purchase properties for Section 8 tenants.
In the absence of specific day median DOM (Days on Market) and price-cut share percentages, it's important to note that these metrics are crucial for understanding the local real estate market dynamics. They help investors gauge how quickly properties are rented out and whether there's a need to adjust rental prices to attract tenants. In areas where the rent-to-buy dynamic is significant, these figures can provide insights into the overall health and turnover rate of the rental market.
The strongest angle for investors in ZIP code 20522 appears to be cashflow. Given the established HUD FMR and the assumption of slightly higher market rents, maintaining properties that are well-suited for voucher holders can ensure steady, reliable income. While appreciation and stability are also important considerations, the consistent cashflow from Section 8 vouchers is a significant advantage in this competitive market.
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.