Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,040 |
| 1 Bedroom | $2,170 |
| 2 Bedrooms | $2,680 |
| 3 Bedrooms | $3,350 |
| 4 Bedrooms | $3,730 |
| 5 Bedrooms | $4,327 |
| 6 Bedrooms | $4,846 |
| 7 Bedrooms | $5,234 |
| 8 Bedrooms | $5,496 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,680 | $321,784 | 0.83% | C |
| 3BR | $3,350 | $509,032 | 0.66% | D |
| 4BR | $3,730 | $705,989 | 0.53% | F |
| 5BR | $4,327 | $959,582 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 21012 in Arnold, MD, stands out within Anne Arundel County due to its unique demographic and economic characteristics. With a population of 22,570 residents, it has a relatively low rental rate of 13.7%, indicating that most residents own their homes. The median income here is $139,432, which is notably higher than the national average, reflecting a generally affluent community. However, the median home value at $597,093 also suggests that homeownership can be quite expensive.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 21012 in fiscal year 2024 is set at $2,680. This figure is slightly above the current market rent, measured by the Zillow Observed Rent Index (ZORI), which is at $2,654. This indicates that landlords participating in the Section 8 program can expect to receive slightly more than the typical market rent, providing a modest incentive to accept vouchers.
The data signature for ZIP 21012 reads as stable. Despite the high median home value, the relatively low rental rate and high median income suggest that the local economy is robust, with a strong preference among residents for homeownership. This stability makes it an attractive area for small-portfolio investors looking for consistent returns without significant risk. Landlords should consider the slight premium offered by the Section 8 program when deciding whether to accept vouchers, as it aligns well with the existing market conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.