Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,140 |
| 1 Bedroom | $2,230 |
| 2 Bedrooms | $2,470 |
| 3 Bedrooms | $3,150 |
| 4 Bedrooms | $3,710 |
| 5 Bedrooms | $4,304 |
| 6 Bedrooms | $4,820 |
| 7 Bedrooms | $5,206 |
| 8 Bedrooms | $5,466 |
ZIP code 20848 in Unknown, DC, falls under the broader Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 20848 is set at $2100 for fiscal year 2024. This figure is crucial for landlords and investors considering properties in this area, especially those participating in the Section 8 housing program.
The lack of specific data on market rent, home values, and renter share for ZIP 20848 makes direct comparisons challenging. However, we can infer its position within the metro area based on the FMR alone. Typically, the Washington-Arlington-Alexandria metro has higher FMRs due to its status as a major urban center with a robust economy and high demand for rental housing. Given that the FMR for 20848 is $2100, it suggests that this ZIP could be a value pocket within the metro, offering lower rents compared to the average.
A value pocket is characterized by rental rates that are below the metro average but still offer decent returns on investment. While we don't have precise market rent figures for 20848, the FMR being lower than the typical range for the Washington-Arlington-Alexandria metro implies that market rents might also be relatively affordable. This makes it an attractive option for landlords looking to serve tenants who qualify for Section 8 assistance, as they can potentially secure properties at a better rate without compromising on tenant quality.
The absence of data on home values and renter share prevents us from making definitive statements about the overall attractiveness of 20848 as a Section 8 neighborhood. However, if we assume that the renter share is indeed high, which is common in value pockets, and that home values are lower than the metro average, then 20848 would likely represent a sweet spot for Section 8 landlords and investors. Such areas tend to attract a higher concentration of renters who rely on government subsidies, providing steady demand and occupancy rates.
To conclude, ZIP 20848 appears to be a value pocket within the Washington-Arlington-Alexandria metro area, with its FMR of $2100 suggesting lower-than-average rental costs. This positioning offers opportunities for landlords and small-portfolio investors to maximize their investment potential by focusing on properties that cater to subsidized housing tenants.
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.