Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA
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 | $1,910 |
| 1 Bedroom | $2,040 |
| 2 Bedrooms | $2,520 |
| 3 Bedrooms | $3,150 |
| 4 Bedrooms | $3,500 |
| 5 Bedrooms | $4,060 |
| 6 Bedrooms | $4,547 |
| 7 Bedrooms | $4,911 |
| 8 Bedrooms | $5,157 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,150 | $448,622 | 0.7% | D |
| 4BR | $3,500 | $546,886 | 0.64% | D |
U.S. Census Bureau data (2024)
ZIP code 20733, located within the Baltimore-Columbia-Towson, MD MSA, presents a unique profile when compared to other ZIP codes in the metro area. The Fair Market Rent (FMR) for 20733 in fiscal year 2024 is set at $2,350. This figure is notably lower than the average market rent of $3,501, indicating that the ZIP code offers more affordable rental options relative to the broader metro area.
The median home value in ZIP 20733 stands at $444,938, which is likely below the average for the Baltimore-Columbia-Towson MSA. With only 4.8% of residents being renters, it suggests that this ZIP code has a predominantly owner-occupied housing stock. However, the relatively low FMR and market rent in comparison to the metro average, coupled with a below-average renter share, indicates that 20733 is not necessarily a prime location for large-scale rental investments.
Based on these figures, ZIP 20733 can be classified as a value pocket within the Baltimore-Columbia-Towson MSA. It offers more affordable rental rates and home values compared to the overall metro, making it an attractive option for those seeking more economical housing choices. While the renter share is modest, the disparity between FMR and market rents does not suggest a significant presence of Section 8 households, which typically prefer areas where rents are closer to the FMR.
Landlords and small-portfolio investors should consider that while 20733 provides opportunities for lower-cost rentals, the potential for higher rental income seen in premium sub-markets of the MSA is limited here. The ZIP code's characteristics align more closely with a value pocket, offering stability and affordability rather than premium pricing.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.