Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| 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 |
The ZIP code 20791 in Washington, D.C., presents a market in motion, characterized by specific dynamics that shape its real estate landscape. The Fair Market Rent (FMR) for ZIP 20791 stands at $1780 for fiscal year 2024, providing a benchmark for rental properties in the area. Despite this figure, the actual market rent remains unspecified, suggesting either a lack of comprehensive data or a market that closely aligns with the FMR without significant premium or discount.
The absence of data on the percentage of price-cut share and days on market (DOM) indicates a market where transactions might be swift and prices relatively stable. This could mean that demand is strong enough to keep listings moving quickly, but it's also possible that the market is underserved with data. A lack of median home value data further underscores the need for caution when interpreting the overall health and direction of the ZIP's real estate market.
ZIP 20791's undefined renter share is a critical piece of missing information. In markets where renters constitute a significant portion of the population, there is often higher long-term housing pressure due to limited ownership options. The unknown percentage here leaves room for speculation about the balance between renters and homeowners, which is essential for understanding the underlying demand for rental properties. However, given the FMR figure and the unspecified market rent, we can infer that rental demand is likely robust, as the FMR is set to ensure affordability in areas with high housing costs.
To fully grasp the dynamics of ZIP 20791, it's necessary to consider the broader context of Washington, D.C.'s real estate market. D.C. is known for its competitive rental market, driven by a mix of federal employment, transient populations, and limited residential space. This suggests that even with incomplete data, the market in ZIP 20791 is likely experiencing a scenario where demand is keeping pace with or potentially outstripping supply, particularly in the rental sector.
Landlords and small-portfolio investors should focus on maintaining properties that meet the needs of tenants at or near the FMR. Given the strong rental market dynamics inferred from the available data, it's crucial to stay attuned to local trends and the potential for increased competition among landlords. Engaging with local real estate professionals and utilizing tools such as web searches for current listings and pricing can provide additional insights into the market's true trajectory.
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.