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 market in ZIP code 20731, located in Washington D.C., presents a dynamic scenario where the Federal Market Rent (FMR) stands at $1780 for fiscal year 2024. This figure, while indicative of the rental landscape, lacks context without comparative market rent data, which is currently unavailable.
The absence of data on the percentage of price-cut shares, days on market (DOM), and median home values suggests that there may be limited recent transactional activity or that the data is not fully captured, making it challenging to assess the balance between supply and demand directly. However, the presence of an FMR and the lack of specific market rent figures might imply a strong reliance on federally supported housing programs, possibly due to high overall rental costs in the area.
ZIP 20731's FMR is a critical benchmark for Section 8 landlords and small-portfolio investors, as it sets the maximum rental amount for low-income families receiving federal assistance. The fact that the market rent is not available could mean that the local rental market is either closely aligned with the FMR, or there is significant variability in rents that makes it difficult to generalize.
The unknown percentage of renters in the area indicates a lack of comprehensive data on the housing mix. In many urban areas, a higher percentage of renters can signify long-term housing pressure, as it suggests a greater number of residents seeking affordable rental options over homeownership. This pressure often leads to higher rental rates and competition among tenants, which could explain the reliance on federal support for housing in ZIP 20731.
In summary, ZIP 20731 appears to be a market heavily influenced by federally supported housing programs, with limited data suggesting a potentially tight rental market. Landlords and investors should consider the importance of the FMR in setting their rental prices and the potential for increased tenant competition.
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.