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 | $2,240 |
| 1 Bedroom | $2,390 |
| 2 Bedrooms | $2,950 |
| 3 Bedrooms | $3,690 |
| 4 Bedrooms | $4,100 |
| 5 Bedrooms | $4,756 |
| 6 Bedrooms | $5,327 |
| 7 Bedrooms | $5,753 |
| 8 Bedrooms | $6,041 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,690 | $514,289 | 0.72% | D |
| 4BR | $4,100 | $635,764 | 0.64% | D |
| 5BR | $4,756 | $756,124 | 0.63% | D |
U.S. Census Bureau data (2024)
The market in ZIP code 21047 is characterized by a balance between supply and demand, but leans slightly towards a scenario where demand is inching ahead of supply. This inference is drawn from the Federal Market Rent (FMR) of $2,910 for the fiscal year 2024, which exceeds the reported market rent of $2,315 based on the latest Census American Community Survey (ACS) data. The higher FMR suggests that the government's assessment of fair rental values is above what current market conditions dictate, indicating potential upward pressure on rents.
A key indicator of market dynamics is the low price-cut share at 0.2%. This figure implies that landlords and property owners are not frequently reducing their asking prices, suggesting that the market is stable and perhaps slightly favorable for maintaining or increasing rents. However, the lack of data on days on the market (DOM) prevents a more nuanced understanding of how quickly properties are being leased or sold.
The median home value of $570,385 provides insight into the overall cost of living in the area and the investment potential for homeowners. For landlords and small-portfolio investors, this figure can be used to gauge the typical resale value of properties in the area, which is crucial for long-term planning and capital appreciation considerations.
The renter share of 2.0% is notably low, suggesting that the majority of residents in ZIP 21047 own their homes. Despite this, the low renter share also indicates that there is significant long-term housing pressure. With a smaller proportion of renters, any increase in the number of renters could lead to a more competitive rental market, pushing rents upwards if the supply of rental units remains constant.
In summary, ZIP 21047 presents a market where demand is likely to be steady, if not growing, especially in the rental sector. The gap between FMR and market rent, combined with the low price-cut share, points towards a market that is resilient and may be poised for growth. For investors, this suggests that while the current market may not be experiencing rapid changes, it offers a stable environment with potential for future appreciation in both rental income and property values.
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.