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 ZIP code 20535 presents a dynamic rental market, particularly within the context of Section 8 housing. The Fair Market Rent (FMR) for this area stands at $1980 for the fiscal year 2024, indicating a benchmark that landlords should be aware of when setting rents for Section 8 eligible units.
Despite the absence of specific data on market rent, price-cut share, days on market (DOM), and median home value, the available information on FMR suggests a competitive environment. In markets where supply is high relative to demand, we often see lower FMRs as landlords struggle to fill vacancies. Conversely, higher FMRs can signal a tight market where demand outpaces supply. Given the specific FMR figure without comparative historical data, it's prudent to consider the broader economic context and local trends to understand whether this indicates a surplus or deficit of rental properties.
The lack of data on the percentage of renters who are willing to accept price cuts to secure a lease suggests that landlords may need to be flexible in their pricing strategies. A low renter share typically points towards an owner-occupied market, which can mean less immediate pressure from transient tenants but also implies that any increase in renter population could lead to significant housing pressure over time. This makes ZIP 20535 a market worth watching closely for shifts in housing dynamics.
In summary, while specific metrics like market rent and median home value are unavailable, the FMR of $1980 provides a critical insight into the rental landscape of ZIP 20535. Landlords and small-portfolio investors must remain vigilant to the changing dynamics of this market, especially concerning the potential for increased rental demand and the implications for housing pressure.
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.