Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,470 |
| 1 Bedroom | $2,580 |
| 2 Bedrooms | $2,860 |
| 3 Bedrooms | $3,640 |
| 4 Bedrooms | $4,290 |
| 5 Bedrooms | $4,976 |
| 6 Bedrooms | $5,573 |
| 7 Bedrooms | $6,019 |
| 8 Bedrooms | $6,320 |
U.S. Census Bureau data (2024)
The ZIP code 20617 stands out due to its unique characteristics, which set it apart from many other areas. With a population of only 334 residents, this ZIP code has an exceptionally low percentage of renters at 0.0%, indicating that it is primarily composed of homeowners. The median income here is quite robust at $104,036, reflecting a community that is economically well-off. This is further supported by the median home value of $558,999, suggesting that the homes in this area are of high quality and cost.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 20617 is set at $2550 for fiscal year 2024. However, there is no available market rent data for this ZIP code, making direct comparisons challenging. Given the low rental rate and the high median home value, it is likely that landlords in this area would find limited demand for Section 8 vouchers. The presence of these vouchers might not significantly impact the housing market in 20617, as the majority of residents own their homes rather than renting.
The data signature for ZIP 20617 reads as stable. The lack of renters and the high median income and home values suggest a settled community with little fluctuation in economic status. Landlords and small-portfolio investors should consider the limited utility of Section 8 vouchers in this area, focusing instead on the strong homeowner base and the overall economic stability of the region. These factors indicate a reliable and consistent environment for real estate investments, with less reliance on government-subsidized rental programs.
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.