Location: Calvert County, MD | Metro: Calvert County, 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 | $1,490 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,910 |
| 3 Bedrooms | $2,640 |
| 4 Bedrooms | $2,990 |
| 5 Bedrooms | $3,468 |
| 6 Bedrooms | $3,884 |
| 7 Bedrooms | $4,195 |
| 8 Bedrooms | $4,405 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,910 | $357,098 | 0.53% | F |
| 3BR | $2,640 | $407,543 | 0.65% | D |
| 4BR | $2,990 | $549,286 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 20732, Chesapeake Beach, MD, is home to 10,722 residents, with only 12.5% being renters. This indicates that the area is primarily dominated by homeowners rather than renters, suggesting that the demand for Section 8 vouchers is relatively low compared to areas with higher percentages of renters. The median household income in this region stands at $140,304, which provides context for evaluating rental affordability.
A typical market rent of $1,825 represents approximately 1.3% of the median household income, making it accessible even to those who do not rely on government assistance. However, the Federal Market Rent (FMR) for the fiscal year 2024 is set at $1,830, indicating that the rental market closely aligns with the federal standards for affordable housing. This parity suggests that landlords in Chesapeake Beach can reasonably expect tenants seeking Section 8 vouchers to find units within their budget, although the overall number of such tenants will be limited due to the low percentage of renters in the area.
Landlords and small-portfolio investors should anticipate a tenant pool that includes individuals and families with moderate to high incomes, given the overall economic status of the ZIP code. While some tenants may seek to utilize Section 8 vouchers, the majority of potential renters are likely to be financially stable without relying on government subsidies. The combination of a slightly higher median income and a lower percentage of renters points towards a market where competition for Section 8 vouchers is not as intense as in more renter-heavy areas.
In summary, Chesapeake Beach, MD, offers a balanced environment for landlords, with a mix of financially independent renters and those using Section 8 vouchers. The typical rent consumes a small portion of the average household's income, ensuring that most tenants can afford the $1,825 market rate. Landlords should prepare for a tenant profile that leans towards financial stability, with voucher usage being less prevalent due to the homeowner-dominated nature of the ZIP code.
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.