Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,700 |
| 1 Bedroom | $1,820 |
| 2 Bedrooms | $2,240 |
| 3 Bedrooms | $2,810 |
| 4 Bedrooms | $3,120 |
| 5 Bedrooms | $3,619 |
| 6 Bedrooms | $4,053 |
| 7 Bedrooms | $4,377 |
| 8 Bedrooms | $4,596 |
U.S. Census Bureau data (2024)
The ZIP code 21153 encompasses a high-end residential neighborhood characterized by its affluent demographic and relatively low rental activity. With a total population of 456, only 11.2% of residents are renters, indicating a predominantly owner-occupied area. The median household income stands at a robust $220,179, placing it well above the national average and reflecting the wealth of the community. The median home value is also impressively high at $1,083,040, further underscoring the luxury nature of the housing stock.
In terms of rent economics, the Fair Market Rent (FMR) for ZIP 21153 in fiscal year 2024 is set at $2,130. However, the lack of data on market rent suggests that this figure might not accurately represent the actual rental costs in such an exclusive area. Given the scarcity of rental properties and the high-income profile of the residents, market rents could be significantly higher for those units that do exist.
Considering these factors, ZIP 21153 would likely appeal more to a hands-on value-add buyer rather than a hands-off voucher operator. The limited number of renters means that relying solely on Section 8 vouchers for occupancy is impractical. Instead, a strategic approach focusing on converting underutilized or undervalued properties into premium rentals or second homes for wealthy individuals would be more effective. This requires active management and possibly renovations to meet the expectations of high-income tenants, making it less suitable for passive investment strategies.
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.