Location: St. Mary's County, MD | Metro: St. Mary's County, 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 | $1,280 |
| 1 Bedroom | $1,580 |
| 2 Bedrooms | $1,720 |
| 3 Bedrooms | $2,160 |
| 4 Bedrooms | $2,750 |
| 5 Bedrooms | $3,190 |
| 6 Bedrooms | $3,573 |
| 7 Bedrooms | $3,859 |
| 8 Bedrooms | $4,052 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,160 | $317,674 | 0.68% | D |
U.S. Census Bureau data (2024)
The market in ZIP code 20618 presents a dynamic scenario that frames it as an area in flux, driven by the interplay between rental and homeownership trends. With a Fair Market Rent (FMR) set at $1,560 for fiscal year 2024, the government benchmark underscores the affordability threshold for renters. Meanwhile, the Census ACS data reveals a market rent of $1,905, indicating that actual rents are higher than the FMR, suggesting strong demand among tenants.
The median home value of $339,051 provides insight into the overall cost of homeownership in the area. However, the absence of recent price-cut share and days on market (DOM) data means we cannot definitively state whether supply currently outpaces demand or vice versa. Instead, we must rely on other indicators to gauge the market's direction.
A 16.6% renter share highlights that a significant portion of the population in 20618 opts for renting over buying. This figure implies that there could be a long-term housing pressure, as renters often face challenges in finding affordable options, especially if they are priced out of homeownership due to the median home value. The disparity between the FMR and the market rent also points towards a market where demand is likely driving up prices, even if supply remains stable.
To further understand the market dynamics, consider the following:
The gap between the FMR and market rent suggests a robust rental market, where landlords can charge above the government's affordability guidelines. This indicates a strong tenant base willing to pay more for housing.
The relatively low renter share could imply that many residents have found ways to remain in homeownership, despite rising costs. Alternatively, it might suggest that the area has seen an influx of homeowners who are less inclined to move, thereby creating a steady but not overwhelming demand for rentals.
The median home value, while not directly indicative of supply and demand balance, reflects the overall cost of homeownership. If this value has remained consistent or risen, it could signal that homeownership is becoming less accessible to new buyers, potentially pushing more individuals towards the rental market.
In summary, ZIP 20618 exhibits characteristics of a market where demand, particularly for rentals, is strong relative to the affordability benchmarks. The relatively low renter share hints at a balanced but evolving housing landscape, where both renting and owning coexist, yet the pressure on rental prices suggests a growing challenge for tenants seeking affordable housing.
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.