Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA
| 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 |
U.S. Census Bureau data (2024)
2170 In Deale, MD, the Fair Market Rent (FMR) for FY 2024 is set at $2170. This figure represents the maximum amount a landlord can charge for a Section 8 rental unit in ZIP code 20751. 2773 The Census Bureau reports the average market rent for the area to be $2,773, indicating that landlords participating in the Section 8 program could see a reduction in potential rental income if they choose to participate. However, this does not account for the stability of having a government-backed rental assistance program. 514334 With a median home value of $514,334, it's clear that the real estate market in Deale is relatively strong, suggesting that property owners might have other options for higher returns outside of Section 8. 97 Only 9.7% of residents in Deale are renters, which means the demand for rental properties, including those under Section 8, is limited. 123951 The median household income in the area is $123,951, a significant figure that underscores the financial capability of most residents to afford market-rate housing without assistance. While the data on days on market (DOM) and the percentage of homes that had their prices cut is not available, these factors would typically influence a landlord's decision to enter the Section 8 program. Given the high median home values and incomes, coupled with the low renter share, landlords should carefully weigh the benefits of long-term stability against the potential for higher rental yields in Deale, MD. 2170 Verdict: Participation in Section 8 in Deale, MD, may provide stability but is likely less financially advantageous compared to market-rate rentals.
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.