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 Fair Market Rent (FMR) for ZIP code 20749 in Washington, D.C., for fiscal year 2024 is set at $1780. This figure represents the payment standard that landlords can expect to receive from the Housing Choice Voucher program, commonly known as Section 8, for renting a unit in this area. It's important to note that this is not the rent that tenants will pay; rather, it's the maximum amount the government will subsidize.
In ZIP 20749, there is currently no specific local rent data available to compare against the FMR, indicated by "N/A". However, the absence of local rent data doesn't necessarily mean there isn't a demand for affordable housing. The renter share in this area is also marked as "N/A%", which suggests that a significant portion of residents might be renters, but exact figures are unavailable. Despite this, the presence of the Section 8 program indicates that there is a recognized need for subsidized housing in the region.
The acquisition cost for properties in this ZIP code is listed as "N/A", which means there is no specific data on recent property purchases. Without this information, it's challenging to give a precise recommendation on the price range for acquiring a rental property. However, you can still make informed decisions by looking at comparable sales in nearby areas or using real estate valuation tools.
Before committing to a Section 8 rental in ZIP 20749, ensure that your property meets the minimum housing quality standards, known as the Housing Quality Standards (HQS). These standards cover safety, health, and habitability requirements. Failure to meet these standards could result in your property being ineligible for the program, despite the potential demand and subsidy levels.
In summary, while the FMR of $1780 provides a benchmark for potential income, the lack of detailed local data means you'll need to rely on broader market trends and HQS compliance to make a sound investment decision.
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.