Section 8 Fair Market Rent (FMR) for ZIP 20757 - 2027
Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| 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 |
A skeptical investor might raise several concerns regarding investing in ZIP 20757, particularly focusing on the financial feasibility and market dynamics.
- Will FMR $1780 (zip FY 2024) cover the mortgage on a home?: The data does not provide an exact figure for the average home price in ZIP 20757. However, Zillow reports that there are currently 213 homes for sale in the area. To accurately assess whether the Fair Market Rent (FMR) of $1780 can cover the mortgage, one would need to know the typical home value and interest rates. Without these specifics, it's challenging to make a definitive statement. It's advisable to consult local real estate agents or financial advisors for precise figures.
- Is there enough renter demand at the current occupancy rate?: Zillow lists 13 houses for rent in ZIP 20757, indicating some level of rental activity. However, the specific vacancy rate is not provided in the search results. Vacancy rates are crucial in determining the strength of the rental market. A lower vacancy rate suggests higher demand for rentals. To get a clearer picture, an investor should look into the latest local real estate market reports or contact local property management companies to understand the current rental trends and vacancy rates.
- Will vouchers keep pace with market rents?: According to recent HUD updates, the payment standards and Housing Assistance Payment (HAP) calculations may vary based on local conditions. The average payment standard in ZIP 20757 needs to be aligned with the market rents to ensure that tenants can afford their share of the rent and utilities. While the FMR is set at $1780, the actual payment standard for vouchers can differ. Landlords should regularly check HUD's updates to ensure they stay informed about any changes that could impact their income from voucher-assisted tenants.
The data highlights areas where further investigation is necessary to address the investor's concerns comprehensively. Specific figures on home prices and vacancy rates are required to make well-informed decisions.
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.