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 | $1,810 |
| 1 Bedroom | $1,940 |
| 2 Bedrooms | $2,390 |
| 3 Bedrooms | $2,990 |
| 4 Bedrooms | $3,320 |
| 5 Bedrooms | $3,851 |
| 6 Bedrooms | $4,313 |
| 7 Bedrooms | $4,658 |
| 8 Bedrooms | $4,891 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,990 | $425,130 | 0.7% | D |
| 4BR | $3,320 | $475,024 | 0.7% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 21090 within the Baltimore-Columbia-Towson, MD MSA reveals several key insights for landlords and small-portfolio investors.
The rent math does not align favorably. The Fair Market Rent (FMR) set at $2180 for the fiscal year 2024 is higher than the actual market rent, which stands at $1,969 (ZORI). This discrepancy suggests that landlords might struggle to charge the FMR without facing resistance from tenants who are accustomed to paying lower rates.
Acquisition in this area is moderately affordable. With a median home value of $434,411, potential investors can expect a reasonable entry point into the market. However, the lack of data on days on market (DOM) and the low 0.2% price-cut share indicate that homes may not be selling quickly or at discounted prices, which could pose challenges for those looking to turn a quick profit through resale.
Tenant demand is relatively low. The ZIP code has a population of 10,652, with only 16.8% being renters. This limited renter base means that competition for tenants could be fierce, and landlords may need to offer competitive rental terms to attract and retain tenants.
Verdict: Investing in ZIP 21090 presents a mixed picture. While the median home value offers a reasonable entry point, the mismatch between FMR and ZORI, along with the modest renter share, indicates that success will require careful management and possibly offering incentives to attract tenants. The area's limited rental market suggests a need for strategic planning to ensure steady occupancy and profitability.
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.