Section 8 Fair Market Rent (FMR) for ZIP 21077 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The ZIP code 21077, located in Harford County, Maryland, is characterized by a mix of residential neighborhoods and suburban development. The area benefits from proximity to Baltimore and offers a blend of urban amenities and rural tranquility, making it attractive for both homeowners and renters.

• The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 21077 for fiscal year 2024 is set at $2760. This figure represents the benchmark rental price for government-assisted housing programs, such as Section 8, and provides insight into the local rental market dynamics.
• The median home value in ZIP 21077 stands at $454,388. This indicates a moderate to high-value residential market, which can be favorable for property owners looking to capitalize on appreciation and equity growth.
• Renters make up 22.9% of the population in this ZIP code. This percentage suggests that there is a notable demand for rental properties, although it also implies that a majority of residents prefer to own their homes, which could affect the rental market's size and stability.
• While specific market rent data is currently unavailable, the FMR serves as a reliable indicator of what tenants might expect under government assistance programs, guiding landlords on reasonable rental pricing.
• The lack of day-days-on-market (DOM) data means that we cannot precisely gauge how quickly properties are selling. However, the presence of a significant homeowner base suggests a steady market for those interested in purchasing investment properties.
• The absence of median income data complicates a complete financial picture but does not detract from the overall attractiveness of the ZIP code for real estate investment, given the other positive indicators.

In summary, ZIP 21077 presents a balanced opportunity for real estate investors. With a moderate to high median home value and a substantial share of homeowners, the area supports long-term investment strategies focused on property appreciation. For those considering rental investments, the FMR of $2760 offers a clear guideline for pricing, ensuring compliance with Section 8 requirements while maintaining profitability. Despite the gaps in available data, the area's characteristics suggest a stable market with potential for growth and steady returns.

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.