Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,710 |
| 1 Bedroom | $1,790 |
| 2 Bedrooms | $1,980 |
| 3 Bedrooms | $2,520 |
| 4 Bedrooms | $2,970 |
| 5 Bedrooms | $3,445 |
| 6 Bedrooms | $3,858 |
| 7 Bedrooms | $4,167 |
| 8 Bedrooms | $4,375 |
U.S. Census Bureau data (2024)
1570 is the Fair Market Rent (FMR) for ZIP code 20737 in East Riverdale, MD, for fiscal year 2024, indicating the maximum amount a landlord can charge for a Section 8 voucher. In contrast, the market rent, measured by ZORI, stands at 1957, suggesting a premium over the FMR that landlords might consider charging non-subsidized tenants. The median home value in the area is 401544, reflecting a substantial investment for homeowners but also implying higher property values for rental properties. With 49.6% of the population being renters, there is a significant demand for rental housing, which could be met through Section 8 vouchers. The median income of 86951 provides insight into the financial capabilities of residents, potentially influencing the types of tenants who might qualify for Section 8 assistance. While the day DOM (days on market) is listed as N/A, the low price-cut share of 0.2% suggests that properties in this area sell without needing to be discounted, indicating a strong local real estate market. For small-portfolio investors and landlords looking to enter or remain in East Riverdale, MD, these figures paint a picture of a stable and potentially profitable rental market.
Based on the data, the Section 8 program offers a viable option for landlords and investors in ZIP 20737. The gap between the FMR and market rent, combined with the high renter share and robust property values, indicates a healthy balance where subsidized rents can still yield competitive returns. Moreover, the low price-cut share points to a resilient market where rental properties maintain their value well. Given the median income levels, there is likely a steady pool of qualified tenants seeking Section 8 vouchers. Therefore, for those interested in leveraging the Section 8 program, East Riverdale presents a favorable environment for investment.
Verdict: ZIP 20737 is a good fit for Section 8 investments, offering competitive returns and a stable tenant base.
Data Sources: FMR data from HUD (2027). 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.