Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,110 |
| 1 Bedroom | $2,250 |
| 2 Bedrooms | $2,780 |
| 3 Bedrooms | $3,480 |
| 4 Bedrooms | $3,870 |
| 5 Bedrooms | $4,489 |
| 6 Bedrooms | $5,028 |
| 7 Bedrooms | $5,430 |
| 8 Bedrooms | $5,702 |
U.S. Census Bureau data (2024)
In ZIP code 20755, there are several risks that a first-time Section 8 landlord should be aware of. The primary concern is tenant turnover, which can be higher when the market rent is lower than the Fair Market Rent (FMR). In this case, the market rent stands at $2,435, while the FMR for the fiscal year 2024 is set at $2,510. This discrepancy suggests that tenants might seek better deals elsewhere, leading to increased churn.
Vacancy exposure is another significant issue. With a Day on Market (DOM) status marked as N/A, it indicates a lack of historical data to predict how long properties might remain vacant. This uncertainty can lead to financial strain, especially if vacancies persist longer than expected.
The deferred maintenance exposure is also noteworthy. Although the typical home value is not available, the median income in the area is $103,261. This figure suggests that residents may have the financial capacity to maintain their homes properly, but without a clear understanding of the home values, it's difficult to assess the overall condition of rental properties and the potential costs associated with keeping them up to standard.
Despite these challenges, the ZIP code has a 100.0% renter share, which is an exceptionally high percentage. This high concentration of renters typically correlates with a robust demand for rental housing, including those supported by Section 8 vouchers. As such, landlords in this area can expect a steady pool of potential tenants who qualify for assistance, mitigating some of the risks associated with vacancy and turnover.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.