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 | $1,350 |
| 1 Bedroom | $1,670 |
| 2 Bedrooms | $1,820 |
| 3 Bedrooms | $2,280 |
| 4 Bedrooms | $2,910 |
| 5 Bedrooms | $3,376 |
| 6 Bedrooms | $3,781 |
| 7 Bedrooms | $4,083 |
| 8 Bedrooms | $4,287 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,280 | $449,235 | 0.51% | F |
U.S. Census Bureau data (2024)
12.4% of residents in ZIP code 20674 are renters, indicating a modest demand for rental properties in the area. $1640 is the Fair Market Rent (FMR) set by HUD for Section 8 housing in the region for fiscal year 2024, which serves as a benchmark for affordable rental rates. In comparison, the market rent stands at $1,844 according to Census ACS data, suggesting that landlords participating in the Section 8 program might see slightly lower rents but still remain competitive. The median home value in the area is $468,058, reflecting a middle-class neighborhood where homeownership is prevalent. With a median income of $171,985, tenants in the area have a reasonable earning capacity, although the Section 8 program limits the amount they can contribute to their rent based on their income. Unfortunately, data on the average days on market (DOM) and the percentage of homes that had their prices cut are not available, which could provide insights into the local real estate market's health and dynamics. However, given the close alignment between the FMR and market rent, landlords in ZIP 20674 can expect stable occupancy rates if they choose to participate in the Section 8 program. The relatively high median income also supports the likelihood that many eligible tenants will be financially responsible. In conclusion, the Section 8 program remains a viable option for landlords in 20674, offering a steady stream of rental income with minimal vacancy risk.
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.