Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,830 |
| 1 Bedroom | $1,910 |
| 2 Bedrooms | $2,110 |
| 3 Bedrooms | $2,700 |
| 4 Bedrooms | $3,170 |
| 5 Bedrooms | $3,677 |
| 6 Bedrooms | $4,118 |
| 7 Bedrooms | $4,447 |
| 8 Bedrooms | $4,669 |
U.S. Census Bureau data (2024)
The ZIP code 20838 stands out in its county with a distinct data profile. It is home to only 306 residents, indicating a very small community. Among these, just 2.2% are renters, which suggests that homeownership is the dominant housing model in this area. The median household income in ZIP 20838 is $250,001, placing it well above the national average. This high income level is further reflected in the median home value, which is an impressive $746,027.
Moving to the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 20838 in fiscal year 2024 is set at $1880. However, the market rent data is currently unavailable, making direct comparisons challenging. Despite this gap, the high median home value and income suggest that the housing market in this ZIP code is not heavily reliant on rental assistance programs like Section 8.
Given the data signature of ZIP 20838, it reads as stable rather than transitional. With a high median income and home values, there is little indication of significant changes in the near future. The low percentage of renters also points towards a community where long-term homeownership is the norm, further reinforcing the stability of the local real estate market.
For landlords and small-portfolio investors, the implications are clear. While Section 8 vouchers can be a part of your tenant mix, the primary demand will likely come from higher-income households seeking to purchase homes. Therefore, focusing on property management strategies that appeal to owner-occupiers and ensuring that any rental properties are competitively priced within the context of the high median home value will be key to success in this ZIP code.
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.