Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,700 |
| 1 Bedroom | $1,750 |
| 2 Bedrooms | $2,200 |
| 3 Bedrooms | $2,920 |
| 4 Bedrooms | $3,280 |
| 5 Bedrooms | $3,805 |
| 6 Bedrooms | $4,262 |
| 7 Bedrooms | $4,603 |
| 8 Bedrooms | $4,833 |
U.S. Census Bureau data (2024)
ZIP code 20779, located within the Baltimore-Columbia-Towson, MD MSA, exhibits characteristics that place it firmly in the premium sub-market category compared to typical ZIP codes in this metro area. The Fair Market Rent (FMR) for ZIP 20779 stands at $2,110 for fiscal year 2024, which is notably higher than the market rent of $1,735. This indicates a strong demand for rental properties in the area, likely driven by its high median home value of $647,484.
The median home value in 20779 is significantly above the average for the Baltimore-Columbia-Towson MSA, suggesting a concentration of more expensive housing units. Additionally, the 9.3% renter share in 20779 is lower than the typical ZIP code in the metro, where renter shares tend to be higher. This low renter share combined with the elevated home values implies a predominantly owner-occupied market.
Despite the high home values and FMR, the lower-than-average renter share does not necessarily indicate a Section 8 sweet spot. A Section 8 sweet spot typically involves a high renter share coupled with below-metro average home values, which would suggest an area where rental properties are more affordable and thus attractive to Section 8 tenants. In 20779's case, the high home values and relatively low renter share point towards a premium sub-market where homeownership is more common and rents are higher due to the cost of living and property values.
To summarize, ZIP 20779 is a premium sub-market within the Baltimore-Columbia-Towson MSA, characterized by high home values and rental costs. Landlords and small-portfolio investors should expect a competitive rental market with higher-than-average rental prices but fewer potential Section 8 tenants due to the lower renter share.
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.