Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,160 |
| 1 Bedroom | $2,250 |
| 2 Bedrooms | $2,490 |
| 3 Bedrooms | $3,170 |
| 4 Bedrooms | $3,740 |
| 5 Bedrooms | $4,338 |
| 6 Bedrooms | $4,859 |
| 7 Bedrooms | $5,248 |
| 8 Bedrooms | $5,510 |
U.S. Census Bureau data (2024)
The ZIP code 20868 stands as a unique market within the real estate landscape, characterized by its distinct financial metrics and housing dynamics. The Fair Market Rent (FMR) for ZIP 20868 is set at $2100 for the fiscal year 2024, indicating a benchmark for rental pricing in the area. However, the absence of specific market rent data suggests that the official FMR might not fully reflect the current market conditions, leaving room for interpretation.
The median home value in ZIP 20868 is notably high at $774,865. This figure points towards a market that is likely experiencing strong demand, especially if we consider the implications of the 0.0% renter share. In areas with such low renter shares, homeownership is the dominant form of residence, which can lead to long-term housing pressures as fewer units are available for rent. This dynamic often translates into higher property values and potentially limited rental inventory, suggesting that demand for ownership may be outpacing the supply of homes for sale.
The lack of data on price-cut share and days on market (DOM) complicates a direct assessment of whether supply or demand is currently dominating. Typically, a high DOM indicates a surplus of properties relative to buyer interest, while a low DOM signals a competitive market where homes sell quickly. Similarly, a significant price-cut share would suggest that sellers are having to lower their asking prices due to weak demand, whereas a low or zero share would imply that homes are selling close to their initial listing prices.
In ZIP 20868, the absence of these metrics means that landlords and small-portfolio investors must rely on other indicators to gauge market health. The high median home value and low renter share suggest a market that favors buyers seeking to own rather than rent. This trend could indicate a shift away from rental properties, which might impact the rental market's stability and profitability over time.
Landlords and investors should consider the broader context of ZIP 20868's real estate environment, including the potential for increasing competition among homeowners and the limited pool of renters. While the current FMR of $2100 provides a baseline for rental pricing, the overall trajectory of the market leans toward strong demand for ownership, which could influence future investment strategies and property management decisions.
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.