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 |
The analysis of ZIP code 20907 in the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area reveals several key points that are crucial for landlords and small-portfolio investors.
The rent math does not work favorably for this area. The Fair Market Rent (FMR) for ZIP 20907 in fiscal year 2024 is set at $2100. However, the lack of specific market rent data suggests that actual rental rates might be below this benchmark, indicating a potential mismatch between what tenants can afford and the FMR guideline.
Regarding the affordability of property acquisitions, the absence of detailed data on median home values, days on market (DOM), and the percentage of price cuts makes it challenging to provide a definitive assessment. Without these figures, it's unclear whether properties are being sold at prices that reflect their true market value or if they are overpriced.
Tenant demand in ZIP 20907 is also uncertain due to the lack of specific population and renter share percentages. This ambiguity means that while there may be a need for rental housing, the exact level of demand cannot be quantified without additional data.
Verdict: Investing in ZIP 20907 presents challenges primarily due to insufficient data on market rents and other critical metrics such as median home values and days on market. Until more precise figures are available, landlords and small-portfolio investors should proceed with caution. The FMR of $2100 might not align with current market realities, and the lack of comprehensive data on tenant demographics and property pricing dynamics adds to the risk. Further investigation is necessary before making any significant investment decisions in this area.
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.