Section 8 Fair Market Rent (FMR) for ZIP 20763 - 2027

Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,920
1 Bedroom	$2,050
2 Bedrooms	$2,530
3 Bedrooms	$3,160
4 Bedrooms	$3,520
5 Bedrooms	$4,083
6 Bedrooms	$4,573
7 Bedrooms	$4,939
8 Bedrooms	$5,186

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,601

Median Household Income

$76,842

Housing Units

1,161

Renter Percentage

58.8%

Occupancy Rate

98.4%

Renter Occupied

672

Housing Authorities Serving ZIP 20763

Howard County Housing Commission (Columbia, MD) - 1,184 Section 8 vouchers

The ZIP code 20763, located in Virginia, is characterized by a blend of suburban living and proximity to urban amenities, making it an attractive location for both residents and investors. The area offers a mix of rental properties and homeownership opportunities, reflecting a diverse demographic and economic landscape.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 20763 for fiscal year 2024 is set at $2,140, indicating a robust rental market driven by demand.
The average market rent for a two-bedroom apartment, according to Census ACS data, is $1,989, slightly below the FMR but still reflective of strong tenant interest in the area.
The median home value in ZIP 20763 stands at $492,904, which is competitive and suggests that property values are stable and potentially appreciating.
Renters make up a significant portion of the population, with a 58.8% renter share, underscoring the viability of rental investments in this area.
The median income in ZIP 20763 is $76,842, providing evidence of a financially stable resident base capable of supporting higher rents and property values.

Investors looking to enter the ZIP 20763 market should take note of the favorable conditions presented by these data points. With a high renter share and steady median income levels, the area supports a healthy rental market. Although the FMR slightly exceeds the market rent, this gap can be managed through efficient property management practices. The median home value indicates a stable housing market, which can translate into long-term appreciation for those investing in rental properties or considering homeownership. Overall, ZIP 20763 presents a promising investment opportunity for landlords and small-portfolio investors seeking a balance between rental income potential and property value growth.

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.