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 | $1,480 |
| 1 Bedroom | $1,580 |
| 2 Bedrooms | $1,950 |
| 3 Bedrooms | $2,440 |
| 4 Bedrooms | $2,710 |
| 5 Bedrooms | $3,144 |
| 6 Bedrooms | $3,521 |
| 7 Bedrooms | $3,803 |
| 8 Bedrooms | $3,993 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,950 | $256,652 | 0.76% | D |
| 3BR | $2,440 | $409,747 | 0.6% | F |
| 4BR | $2,710 | $562,443 | 0.48% | F |
| 5BR | $3,144 | $668,091 | 0.47% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 21014, which includes Bel Air, Maryland, is set at $1,900 for fiscal year 2024. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It does not mean that you will receive $1,900 as rent; rather, it is the maximum amount the program will pay toward your tenant's rent.
To put this into context, the Zillow Observed Rent Index (ZORI) for the area is $1,705. This means that on average, tenants in Bel Air are paying $1,705 per month for a rental property. The FMR is higher, indicating that landlords can potentially charge slightly more for a voucher-assisted tenant without exceeding the program's limits.
The 24.2% renter share in the area suggests a moderate demand for rental properties. This percentage indicates the proportion of households that rent their homes. If you're considering adding a Section 8 rental to your portfolio, this demand level means there is a reasonable market for such properties.
When acquiring a new rental property, the median home value of $449,920 should be considered. This figure gives you an idea of the typical price range for homes in Bel Air. If you plan to purchase a property specifically for Section 8 tenants, ensure that the property's value aligns with this figure to maintain a sound investment strategy.
Before proceeding with your first Section 8 rental, verify that the property meets all local housing quality standards. These standards are set by the U.S. Department of Housing and Urban Development (HUD) and are necessary to ensure that the rental unit is safe and habitable for tenants. Failure to meet these standards can result in penalties or disqualification from the program.
In summary, the FMR of $1,900 provides a guideline for rent pricing under the Section 8 program, while the ZORI of $1,705 reflects the average market rent. With a 24.2% renter share, there is a steady demand for rentals, and the median home value of $449,920 offers insight into property costs. Ensure your property complies with HUD's housing quality standards to avoid issues and maintain eligibility.
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.