Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,540 |
| 1 Bedroom | $1,630 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,530 |
| 4 Bedrooms | $2,810 |
| 5 Bedrooms | $3,260 |
| 6 Bedrooms | $3,651 |
| 7 Bedrooms | $3,943 |
| 8 Bedrooms | $4,140 |
U.S. Census Bureau data (2024)
ZIP code 21084, located within the Baltimore-Columbia-Towson, MD MSA, has a Fair Market Rent (FMR) of $1720 for fiscal year 2024. This figure represents the maximum amount that a low-income household can pay towards rent while still qualifying for Section 8 assistance.
The market rent for ZIP 21084 is currently not available, which means we cannot directly compare it to the FMR. However, the median home value of $548,668 suggests that this area is generally more expensive compared to other ZIP codes within the MSA. The average home value in the Baltimore-Columbia-Towson MSA is lower, indicating that 21084 leans towards being a premium sub-market within its metro area.
The renter share in ZIP 21084 stands at 6.4%. This percentage is relatively low compared to typical ZIP codes within the MSA, where renter shares might be higher. A lower renter share typically indicates fewer residents renting properties, which could mean a smaller pool of potential Section 8 tenants.
To determine if 21084 is a value pocket, a mid-tier neighborhood, or a premium sub-market, consider the following:
The FMR of $1720 is likely to be below the actual market rent in this ZIP code, given its premium status indicated by the high median home value. Landlords and small-portfolio investors should expect to charge more than the FMR for market-rate rentals.
The lack of market rent data makes direct comparison challenging, but the high median home value suggests that rental prices are also likely elevated, aligning with the premium sub-market classification.
A low renter share of 6.4% means that the majority of residents own their homes. This characteristic does not typically signal a Section 8 sweet spot, as a higher renter share with below-average home values would indicate a more favorable environment for Section 8 tenants.
In summary, ZIP code 21084 appears to be a premium sub-market within the Baltimore-Columbia-Towson, MD MSA. It is characterized by higher home values and a lower renter share, making it less likely to be a value pocket for Section 8 assistance. Investors should prepare for a competitive rental market and potentially higher vacancy rates due to the limited number of renters.
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.