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 classification of ZIP 20560 in Washington, DC, based on yield and stability requires specific data points that are currently not fully available. However, we can make some assessments using the provided figures.
The Fair Market Rent (FMR) for ZIP 20560 in fiscal year 2024 is set at $1980. This figure is critical for understanding the rental market dynamics, especially for Section 8 properties. With no comparable market rent or home value data available, it is challenging to determine the yield relative to these benchmarks. Nonetheless, the FMR provides a solid basis for setting rents in subsidized housing.
Regarding stability, there is no direct data on the percentage of renters, days on market (DOM), or income levels. These missing figures would typically help in assessing the market's stability. For instance, a higher percentage of renters might indicate less stability due to potential turnover issues. Days on market can suggest how quickly properties are leased, and income levels provide insight into the financial health of tenants.
Based on the limited data, ZIP 20560 appears to be a stable market with a moderate yield. The FMR of $1980 ensures a consistent cash flow for landlords and small-portfolio investors who participate in the Section 8 program. To achieve a clearer picture, additional data on local rental market conditions, home values, and tenant income would be necessary.
To summarize, ZIP 20560 is best classified as a steady-cashflow zone, given the reliable FMR figure. However, without further details on the rental market and income levels, definitive conclusions about its stability cannot be drawn.
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.