Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,900 |
| 1 Bedroom | $3,030 |
| 2 Bedrooms | $3,350 |
| 3 Bedrooms | $4,270 |
| 4 Bedrooms | $5,030 |
| 5 Bedrooms | $5,835 |
| 6 Bedrooms | $6,535 |
| 7 Bedrooms | $7,058 |
| 8 Bedrooms | $7,411 |
U.S. Census Bureau data (2024)
The ZIP code 20896 is primarily a homeowner-dominated area rather than a renter-heavy one, given that only 3.4% of the population are renters. This suggests that the demand for Section 8 vouchers is likely to be relatively low compared to areas with higher percentages of renters. The median household income in this ZIP is exceptionally high at $250,001, which contrasts sharply with the typical market rent of $3,250 per month.
To put this into perspective, the average rent of $3,250 consumes approximately 1.3% of the median household income. This indicates that the rent is affordable for most residents, even without assistance from housing vouchers. In fact, the Fair Market Rent (FMR) set at $2,350 for FY 2024 is lower than the market rent, suggesting that landlords in this area might not see many tenants qualifying for the full amount of Section 8 vouchers due to income limitations.
A landlord in ZIP 20896 should expect tenants who are financially stable and can afford rents above the FMR. Given the high median income, potential tenants using Section 8 vouchers would likely need to supplement their rental payments with additional income sources to meet the market rate of $3,250. This could make it challenging to find tenants willing to accept properties with a Section 8 tenant designation, especially if they require higher rent payments than the FMR allows.
In summary, while there are some renters in ZIP 20896, the overall environment is not conducive to a high demand for Section 8 vouchers. Landlords should prepare for a tenant pool that is capable of paying higher rents but may be limited in the use of vouchers due to income thresholds. The expectation should be for tenants who are financially secure and possibly looking for subsidized options to cover the gap between the FMR and the actual market rent.
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.