Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,020 |
| 1 Bedroom | $2,120 |
| 2 Bedrooms | $2,350 |
| 3 Bedrooms | $3,000 |
| 4 Bedrooms | $3,530 |
| 5 Bedrooms | $4,095 |
| 6 Bedrooms | $4,586 |
| 7 Bedrooms | $4,953 |
| 8 Bedrooms | $5,201 |
U.S. Census Bureau data (2024)
The ZIP code 20632 stands as a market in flux, with specific dynamics that can be inferred from the available data points. The Fair Market Rent (FMR) for ZIP 20632 is set at $1850 for fiscal year 2024, indicating a benchmark for rental affordability in the area. While the exact market rent and days on market (DOM) are currently unavailable, the absence of these figures might suggest a less active rental market or a lack of recent transactions that could provide a clearer picture.
The median home value in ZIP 20632 is $490,636. This figure reflects the typical cost of homeownership in the area, but without a historical comparison, it's challenging to determine if the value is rising or falling. However, the median home value can be indicative of the overall economic health of the area, with higher values often correlating to greater demand and stability.
A notable aspect of ZIP 20632 is the 12.4% renter share. This percentage suggests that while homeownership remains dominant, there is a significant portion of the population that relies on renting. A lower renter share typically implies less immediate pressure on rental properties, but it also indicates a potential for long-term housing challenges. As the population grows or changes, the demand for rental units could increase, putting pressure on landlords and small-portfolio investors to maintain competitive rents and quality living spaces.
The dynamics of ZIP 20632 highlight a balance between homeownership and rental markets. With a strong median home value and a defined FMR, there appears to be a stable housing environment. However, the relatively low renter share suggests that any shifts in the local economy or demographics could significantly impact the rental market, potentially leading to increased competition among renters and upward pressure on rents. Landlords should be prepared for these potential changes by maintaining well-managed properties and staying informed about local housing trends.
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.