Section 8 Fair Market Rent (FMR) for ZIP 21005 - 2027

Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,870
1 Bedroom	$1,990
2 Bedrooms	$2,460
3 Bedrooms	$3,080
4 Bedrooms	$3,420
5 Bedrooms	$3,967
6 Bedrooms	$4,443
7 Bedrooms	$4,798
8 Bedrooms	$5,038

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,202

Median Household Income

$125,208

Housing Units

948

Renter Percentage

97.2%

Occupancy Rate

88.1%

Renter Occupied

812

In ZIP code 21005, the Section 8 program operates under specific economic parameters that landlords need to understand. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2024 is set at $2,580. This figure is crucial because it represents the maximum amount that the government will pay for a two-bedroom rental unit in this area.

Local market rent, according to the latest Census ACS data, averages $2,087 for a similar two-bedroom unit. Landlords should be aware that the SAFMR is higher than the average market rent, which can influence their decision-making process regarding participation in the Section 8 program.

A voucher payment under Section 8 is calculated based on the SAFMR, the tenant's portion of the rent, and utility allowances. Here’s a breakdown:

The tenant is responsible for paying 30% of their adjusted income towards rent. If a tenant's adjusted income is $1,000 per month, they would pay $300 towards rent.
The government then pays the difference between the tenant's contribution and the SAFMR. In our example, if the SAFMR is $2,580, the government would cover the remaining $2,280.
Utility allowances are also factored into the total payment. These allowances vary but are designed to help cover electricity, gas, water, and sewer costs. For ZIP 21005, the utility allowance might be around $300 per month, depending on the specifics of the unit and location.

Given these factors, let's calculate the typical reimbursement scenario for a landlord renting out a two-bedroom unit. Assuming the tenant pays $300 and the utility allowance is $300, the total reimbursement from the government would be $2,580. Therefore, the landlord receives a total of $2,880 ($300 tenant contribution + $2,580 government reimbursement).

This amount exceeds the local market rent of $2,087 by $793. Thus, landlords in ZIP 21005 who participate in the Section 8 program for a two-bedroom unit will typically see a surplus of $793 per month over the average market rent. This surplus provides a financial cushion and makes the program attractive to many landlords, especially those who might otherwise struggle to fill vacancies in a competitive rental market.

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.