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 20542 is located in Washington, D.C., and represents a densely populated urban neighborhood. With a population density of 7,977 people per square mile, it is a vibrant area characterized by a high concentration of residents. The median age of the residents is notably young at 22.5 years, which is significantly lower compared to both the national median age of 38.8 years and the state median age of 33.9 years.
In terms of economic indicators, the median household income in ZIP 20542 stands at $86,507, placing it above the national average. However, the median home value is $428,500, which is relatively moderate when considering the overall cost of living in Washington, D.C.
The Fair Market Rent (FMR) for ZIP 20542 in fiscal year 2024 is set at $1,980. This figure is critical for landlords and small-portfolio investors who operate under the Section 8 housing choice voucher program. It provides a benchmark for rental pricing that aligns with federal guidelines, ensuring that rents remain affordable for low-income families while providing fair compensation to property owners.
Given the demographic profile and economic characteristics of ZIP 20542, it is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the stable demand for affordable housing and the alignment of FMR with the local rental market make it a reliable investment. Meanwhile, hands-on value-add buyers can capitalize on the potential to improve properties and increase their market value, given the young and potentially upwardly mobile resident base.
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.