Section 8 Fair Market Rent (FMR) for ZIP 20610 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 20610 in fiscal year 2024 is set at $1730. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is also known as the Housing Choice Voucher Program. It's important to note that this is the payment standard, not necessarily the rent you will receive, as tenants typically contribute a portion of their income towards rent.

In ZIP 20610, the local median rent is currently listed as N/A, which makes it challenging to directly compare against the FMR. However, the percentage of renters who could be considered low-income based on the N/A% renter share suggests a significant demand for affordable housing options. This indicates that there is likely a market for Section 8 rentals in this area.

The acquisition cost for properties in this ZIP code is also noted as N/A. While this doesn't provide a specific dollar amount, it can still influence your decision. For instance, if the acquisition cost is lower than the average property value in the area, it might present an opportunity for investment.

Before proceeding with a Section 8 rental property in ZIP 20610, ensure you verify the condition of the property against HUD’s Housing Quality Standards (HQS). These standards outline the minimum acceptable conditions for a rental unit to qualify for the Section 8 program, including safety, cleanliness, and structural integrity. This is crucial because failing to meet these standards could result in the loss of a voucher holder and subsequent rental income.

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.