Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,520 |
| 1 Bedroom | $2,630 |
| 2 Bedrooms | $2,910 |
| 3 Bedrooms | $3,710 |
| 4 Bedrooms | $4,370 |
| 5 Bedrooms | $5,069 |
| 6 Bedrooms | $5,677 |
| 7 Bedrooms | $6,131 |
| 8 Bedrooms | $6,438 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,710 | $441,308 | 0.84% | C |
| 4BR | $4,370 | $581,225 | 0.75% | D |
| 5BR | $5,069 | $702,482 | 0.72% | D |
U.S. Census Bureau data (2024)
The rent math in ZIP code 20613 does not work favorably for landlords. The Fair Market Rent (FMR) set at $2410 for fiscal year 2024 is below the current market rent, which stands at $2,749 as indicated by ZORI (Zillow Observed Rental Index). This discrepancy suggests that landlords might struggle to cover their costs if they adhere strictly to the FMR guidelines.
Acquisition of properties in this area is relatively affordable given the median home value of $509,134. However, the lack of available data on days on market (DOM) and the low percentage of homes needing price cuts (0.2%) indicate a competitive market. This means that while the price point is reasonable, securing a property might be challenging due to limited availability and quick sales.
Tenant demand in ZIP 20613 is weak. With a total population of 17,590, only 6.0% are renters, equating to approximately 1,055 potential tenants. Given the high market rent and the relatively low number of renters, it's unlikely that there will be a robust pool of tenants willing to pay the premium rental rates.
In conclusion, ZIP 20613 presents a mixed picture for landlords and small-portfolio investors. While the median home value offers an opportunity for property acquisition, the mismatch between FMR and market rent, along with the low renter share, points towards difficulties in finding tenants willing to pay the required rents. This makes the area less attractive for investment in rental properties, especially considering the competitive nature of property purchases.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.