Location: Calvert County, MD | Metro: Calvert 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 | $1,160 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $2,050 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,050 | $416,442 | 0.49% | F |
| 4BR | $2,320 | $590,268 | 0.39% | F |
U.S. Census Bureau data (2024)
ZIP code 20678, with a population of 12,752, has a relatively modest rental market share at 21.6%. This indicates that the area is primarily dominated by homeowners rather than renters. The median household income stands at $125,732, which is significantly higher than the federal fair market rent (FMR) of $1,150 for FY 2024. The average market rent in this ZIP is $2,112, which equates to approximately 16.8% of the median household income. This suggests that typical rents are reasonably affordable for the majority of residents.
Given the high median income and the fact that only about one-fifth of the population are renters, it is unlikely that there will be a deep pool of Section 8 voucher holders in this area. Landlords should not expect a heavy demand for subsidized housing tenants. Instead, the tenant profile will likely consist of individuals and families who can afford market rates without government assistance. These tenants would typically have stable employment and could include young professionals, military personnel, and families with a strong financial standing.
The FMR of $1,150 contrasts sharply with the actual market rent of $2,112, indicating that Section 8 vouchers may cover only a portion of the rent in this ZIP code. Therefore, landlords seeking to participate in the Section 8 program should prepare to accept lower-than-market rents and understand the administrative requirements associated with the program. However, the overall tenant base will still lean towards those capable of paying full market rent, given the robust economic conditions of the area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.