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 median household income for the area is not explicitly stated in the search results, which suggests a lack of detailed economic data. Without this information, it is challenging to make direct comparisons to market rents or Federal Market Rents (FMRs).
To better understand the rental dynamics in ZIP code 20540, we would need more precise data on the percentage of renters and the median market rent. This would allow us to assess whether the ZIP code is dominated by homeowners or renters and how deeply voucher demand might be.
Given the scarcity of data, we cannot accurately determine the percentage of local income that typical rent consumes. However, comparing to the FMR of $1980 for FY 2024, landlords should expect tenants who are likely to have a mix of voucher support and personal income contributions, though the exact proportion remains unclear without additional specifics.
In conclusion, landlords in ZIP code 20540 should anticipate working with tenants who may require a combination of Section 8 vouchers and supplementary income to meet rental obligations. The absence of detailed economic data makes it difficult to provide a more nuanced analysis.
For a more comprehensive understanding, further research into local rental markets and tenant profiles would be necessary.
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.