Location: St. Mary's County, MD | Metro: St. Mary's County, MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,320 |
| 1 Bedroom | $1,640 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,230 |
| 4 Bedrooms | $2,840 |
| 5 Bedrooms | $3,294 |
| 6 Bedrooms | $3,689 |
| 7 Bedrooms | $3,984 |
| 8 Bedrooms | $4,183 |
U.S. Census Bureau data (2024)
ZIP 20692, located in St. Mary's County, MD, within the HUD Metro FMR Area, can serve as a cash-flow anchor in a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 20692 in fiscal year 2024 is set at $1630, which provides a stable baseline for rental income. Given that the market data for median home values is listed at $483,988, landlords can expect a steady stream of predictable cash flow from Section 8 tenants.
The high median income of $201,250 suggests a population that could afford higher rents if necessary, but the lack of available market data makes it difficult to assess the exact spread between the FMR and the market rates. However, the absence of price-cut share and days on market (DOM) data indicates a potentially low turnover rate, contributing to the stability of cash flows.
The renter share being at 0.0% might initially seem concerning, as it implies very few residents are renters. However, this ZIP code likely has a significant number of Section 8 voucher holders who rely on government assistance to cover their housing costs. This ensures a consistent demand for rental properties that qualify under the Section 8 program.
In summary, ZIP 20692 is best suited as a cash-flow anchor due to the guaranteed rental income from the FMR and the potential for a stable tenant base. Landlords should focus on maintaining properties that meet the quality standards required by the Section 8 program to ensure long-term viability and profitability.
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.