Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,860 |
| 1 Bedroom | $2,980 |
| 2 Bedrooms | $3,300 |
| 3 Bedrooms | $4,210 |
| 4 Bedrooms | $4,950 |
| 5 Bedrooms | $5,742 |
| 6 Bedrooms | $6,431 |
| 7 Bedrooms | $6,945 |
| 8 Bedrooms | $7,292 |
U.S. Census Bureau data (2024)
The rent math in ZIP code 20762 is favorable but tight. The Fair Market Rent (FMR) set at $2810 for the fiscal year 2024 slightly exceeds the reported market rent of $2,699 according to the Census ACS. This indicates that landlords can expect a modest premium when renting to tenants eligible for Section 8 subsidies.
Regarding acquisition affordability, the data is currently insufficient as the median home value, days on market (DOM), and percentage of homes requiring price cuts are all marked as N/A. Landlords interested in acquiring properties in this area should seek additional local real estate market insights to make informed decisions.
Tenant demand is strong in ZIP 20762. With a population of 3,130 and a renter share of 98.9%, nearly every household is a potential tenant. This high concentration of renters provides a robust pool of applicants for Section 8 vouchers, ensuring a steady stream of tenants.
In summary, while the rent math works in favor of landlords with a slight premium, the lack of current data on median home values, DOM, and price-cut shares makes it challenging to assess acquisition costs accurately. However, the overwhelming tenant demand due to the high renter share suggests that securing a property in this ZIP code would likely result in a fully occupied portfolio. Landlords should proceed with caution on pricing but can be confident in finding tenants.
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.