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 |
ZIP code 20559, located within the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1980 for fiscal year 2024. This figure provides insight into the rental market dynamics for this area compared to other ZIP codes within the same metropolitan region.
To contextualize the FMR of $1980 for ZIP 20559, it's necessary to compare it against the broader trends observed within the Washington-Arlington-Alexandria metro area. While specific market rent and home value data for ZIP 20559 are currently unavailable, we can make reasonable inferences based on the FMR alone. The FMR is set by HUD to ensure that low-income families can afford decent quality housing in the local rental market.
In the Washington-Arlington-Alexandria metro area, ZIP codes typically exhibit a wide range of FMRs due to the diverse economic landscape, varying from affordable neighborhoods to luxury markets. Given that ZIP 20559 has an FMR of $1980, it suggests that the area is likely positioned as a value pocket within the larger metro. This is because the average FMR for the metro tends to be higher, reflecting the overall higher cost of living in and around Washington D.C.
The absence of data regarding market rent, home value, and renter share means we cannot definitively categorize 20559 as a mid-tier neighborhood or a premium sub-market. However, the lower FMR indicates that it is not among the most expensive areas in the region. If the renter share were to be significantly higher than the average for the metro, with below-average home values, it would signal a potential sweet spot for Section 8 investments, where demand for affordable housing meets relatively lower property costs.
Investors should conduct further research to gather more comprehensive data on market rents and home values in ZIP 20559 to make informed decisions. The current FMR figure suggests a more affordable segment of the metro, suitable for tenants who qualify for assistance under the Section 8 program.
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.