Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-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 | $2,560 |
| 1 Bedroom | $2,680 |
| 2 Bedrooms | $2,960 |
| 3 Bedrooms | $3,770 |
| 4 Bedrooms | $4,440 |
| 5 Bedrooms | $5,150 |
| 6 Bedrooms | $5,768 |
| 7 Bedrooms | $6,229 |
| 8 Bedrooms | $6,540 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,960 | $322,404 | 0.92% | C |
| 3BR | $3,770 | $480,284 | 0.78% | D |
| 4BR | $4,440 | $505,628 | 0.88% | C |
| 5BR | $5,150 | $595,012 | 0.87% | C |
U.S. Census Bureau data (2024)
The market in ZIP 20715, Bowie, MD, is dynamic and indicative of a balanced environment between supply and demand. The Fair Market Rent (FMR) for the area stands at $2,610 for fiscal year 2024, slightly above the market rent or Zillow Observed Rent Index (ZORI) which is currently at $2,551. This suggests that while the rental market is competitive, it is also stable, with landlords and tenants finding equilibrium.
The low price-cut share of 0.2% and a relatively short days on market (DOM) of 22 days imply that homes are selling quickly without significant discounts. This points to a robust sales market where demand meets supply efficiently, avoiding prolonged listings and deep discounts. The median home value in the area is $492,071, reflecting a moderate pricing point that supports steady transactions.
A key metric to consider is the 9.4% renter share of the total population. While this percentage is relatively low, it signals a trend toward homeownership rather than renting. However, this same trend can create long-term housing pressure, as fewer units are available for rent, potentially leading to higher competition among renters and upward pressure on rental rates.
In summary, ZIP 20715 exhibits characteristics of a market in flux, where the balance between supply and demand is maintained but could shift towards increased long-term housing pressure due to a preference for homeownership over renting. Landlords and small-portfolio investors should closely monitor these trends to adjust their strategies accordingly.
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.