Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,860 |
| 1 Bedroom | $1,940 |
| 2 Bedrooms | $2,150 |
| 3 Bedrooms | $2,740 |
| 4 Bedrooms | $3,230 |
| 5 Bedrooms | $3,747 |
| 6 Bedrooms | $4,197 |
| 7 Bedrooms | $4,533 |
| 8 Bedrooms | $4,760 |
The HUD Fair Market Rent (FMR) for ZIP code 20717 in the Washington-Arlington-Alexandria County, Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area, for fiscal year 2024, is set at $1780. This figure represents the maximum amount that a Section 8 voucher tenant can pay towards their rent. However, without current market rent data, it's challenging to provide a precise comparison. Based on historical trends and the fact that the area is part of a larger metropolitan region with high demand, it is likely that the market rents exceed the HUD FMR.
Voucher tenants in ZIP 20717 will generally cashflow only with premium units or those that have been strategically renovated to command higher rents. The lack of specific market rent data suggests that landlords need to be particularly selective about the properties they invest in, ensuring that they are in desirable locations or have unique features that justify rents above the FMR but still below the market rate.
The median home value in the area is currently unavailable, making it difficult to derive an exact rent-to-price ratio. However, given the strong economic conditions of the broader Washington, D.C., area, it's reasonable to infer that the rent-to-price ratio would favor long-term investment stability over short-term speculative gains. Landlords should focus on maintaining quality properties that appeal to tenants seeking stable housing.
Due to the absence of specific data on days-on-market (DOM) and price-cut shares, it's important to monitor these metrics closely as they can significantly impact the rent-versus-buy decision-making process for potential renters. A lower DOM and fewer instances of price cuts indicate a strong rental market, which benefits Section 8 investors.
The strongest angle for investors in ZIP 20717 remains stability. The consistent demand for rental properties, combined with the reliability of Section 8 vouchers, ensures steady cash flow and reduces the risk of vacancy. While appreciation and cash flow are also relevant, the predictability of rental income makes stability the most compelling argument for investment in this ZIP code.
Data Sources: FMR data from HUD (2027).
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.