Location: St. Mary's County, MD | Metro: St. Mary's County, MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,330 |
| 1 Bedroom | $1,640 |
| 2 Bedrooms | $1,790 |
| 3 Bedrooms | $2,250 |
| 4 Bedrooms | $2,860 |
| 5 Bedrooms | $3,318 |
| 6 Bedrooms | $3,716 |
| 7 Bedrooms | $4,013 |
| 8 Bedrooms | $4,214 |
U.S. Census Bureau data (2024)
ZIP code 20680, located within the St. Mary's County, MD HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1,440 for fiscal year 2024. This figure is slightly below the average market rent of $1,592, indicating that it may be a more affordable option for renters compared to other areas in the county.
The median home value in ZIP 20680 is $442,277. This figure is relatively consistent with the overall housing market in St. Mary's County, suggesting that it is neither an undervalued area nor significantly overpriced. The home values do not diverge drastically from the metro average, which supports the notion that this ZIP code falls into a mid-tier neighborhood classification.
A notable feature of ZIP 20680 is its renter share of 60.1%. This percentage is higher than what might typically be found in many ZIP codes within the St. Mary's County, MD HUD Metro FMR Area. A high renter share can indicate a strong demand for rental properties, which could be beneficial for landlords and small-portfolio investors looking to capitalize on the rental market.
Given the specific figures provided, ZIP 20680 appears to be a mid-tier neighborhood within its metro. It offers slightly lower rents than the market average, which aligns well with its median home value. However, the high renter share suggests a robust rental market, making it a potentially attractive location for those interested in rental investments. The combination of a high renter share and below-average home values relative to the market rent could signal a sweet spot for Section 8 programs, where the cost of housing is more manageable for low-income tenants while still providing a decent return for property owners.
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.