Section 8 Fair Market Rent (FMR) for ZIP 21108 - 2027
Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,890 |
| 1 Bedroom | $2,020 |
| 2 Bedrooms | $2,490 |
| 3 Bedrooms | $3,110 |
| 4 Bedrooms | $3,460 |
| 5 Bedrooms | $4,014 |
| 6 Bedrooms | $4,496 |
| 7 Bedrooms | $4,856 |
| 8 Bedrooms | $5,099 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$151,324
Housing Authorities Serving ZIP 21108
When considering whether to purchase a property in ZIP 21108 for Section 8 investment, follow these steps:
- Does FMR $2400 (zip FY 2024) clear debt service on a $612,817 property?
- If the annual debt service on the property is less than $28,800 ($2400 * 12), then the answer is Yes. The Fair Market Rent (FMR) is sufficient to cover your mortgage payments.
- If the annual debt service exceeds $28,800, then the answer is No. The FMR would not be enough to sustain your mortgage obligations.
- Is market rent $2,049 (Census ACS) above, at, or below FMR?
- If the market rent is above $2400, then the answer is It depends. While you could potentially charge more than the FMR, the Section 8 program limits rental income to the FMR, so higher market rents won't benefit you directly.
- If the market rent is at or below $2400, then the answer is Yes. This ensures that the FMR will be competitive with other rental options, making your property attractive to Section 8 tenants.
- Are 11.5% renters + N/A-day days on market (DOM) enough demand?
- If the Days on Market (DOM) is low or average, indicating quick turnover, then the answer is Yes. A 11.5% rental rate combined with quick sales suggests there is adequate demand for rental properties.
- If the DOM is high, suggesting slower sales, then the answer is No. High DOM values indicate lower demand, which might make it harder to find and retain Section 8 tenants.
- If the DOM data is unavailable, then the answer is It depends. Without DOM data, you must rely on other indicators such as rental vacancy rates or local economic trends to gauge demand.
The decision to invest in ZIP 21108 hinges on these factors. Ensure that the FMR can support your financial obligations, consider how market rents compare to the FMR, and assess the overall demand for rental properties. With an FMR of $2400 and a market rent of $2,049, the property is already positioned favorably if the debt service is manageable. However, without specific DOM data, demand assessment relies heavily on the percentage of renters and local economic conditions.
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.