Location: St. Mary's County, MD | Metro: St. Mary's County, MD HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The Section 8 market in ZIP code 20626, located within the St. Mary's County, MD HUD Metro FMR Area, presents a unique set of opportunities and challenges for landlords and small-portfolio investors. The Fair Market Rent (FMR) set by HUD for this area for fiscal year 2024 is $1760. However, due to the lack of available market rent data, it's difficult to make a direct comparison. Based on the provided FMR, voucher tenants will typically cashflow at the FMR rate, meaning landlords can expect to cover their expenses without additional financial strain.
To further understand the investment potential, consider the median home value in the area, which stands at $415,891. This figure allows us to derive a rough rent-to-price ratio. Assuming an average monthly rent of $1760, the annual rent would be approximately $21,120. This gives us a rent-to-price ratio of about 5.08%, calculated by dividing the annual rent by the median home value. A higher ratio generally indicates better rental investment potential, suggesting that the rental market in ZIP 20626 could be favorable for investors.
While there is no specific data on the median Days on Market (DOM) or the percentage of homes that required price cuts, these metrics are crucial for understanding the local housing market's performance. In the absence of such data, we must rely on the FMR and median home value to gauge the overall health of the market. Given the cashflow potential at the FMR rate and the relatively high median home value, the strongest investor angle in ZIP 20626 is likely to be stability. Landlords can expect consistent income from voucher tenants, making this a reliable investment option.
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.