Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,330 |
| 1 Bedroom | $2,450 |
| 2 Bedrooms | $2,740 |
| 3 Bedrooms | $3,520 |
| 4 Bedrooms | $4,160 |
| 5 Bedrooms | $4,826 |
| 6 Bedrooms | $5,405 |
| 7 Bedrooms | $5,837 |
| 8 Bedrooms | $6,129 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 20612 in fiscal year 2024 is set at $2450. This figure represents the maximum amount that a landlord can charge a tenant participating in the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you will receive; it's the benchmark against which your rental price must be compared.
In ZIP 20612, the local market rent is currently N/A, which makes comparing it directly to the FMR challenging. However, the FMR is designed to reflect the average rent for a modest apartment in the area, ensuring that voucher holders have access to suitable housing without overburdening landlords with below-market rates.
The 10.6% renter share indicates that approximately 10.6% of the population in ZIP 20612 are renters. This suggests a moderate level of demand for rental properties. While not a high percentage, it still represents a significant portion of potential tenants who might benefit from the Section 8 program.
If you're considering purchasing a property in this ZIP code to use as a Section 8 rental, the median home value stands at $368,050. This is the typical price range you should expect when looking to acquire a property here. The acquisition cost is an important factor to consider alongside the FMR and expected rental income.
Before making the decision to participate in the Section 8 program with a rental in ZIP 20612, ensure that the property meets all the necessary standards for habitability and safety. The government requires that Section 8 homes are safe and decent living environments. This means that any issues such as lead paint, mold, or structural problems must be addressed prior to leasing.
To summarize, the FMR of $2450 sets the maximum rent you can charge for a Section 8 tenant, while the median home value of $368,050 gives you an idea of the investment required. With a moderate renter share, there is reasonable demand for rental properties in this area. Your primary verification step should be confirming that your property complies with all health and safety regulations to avoid delays or disqualification from the program.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
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.