Section 8 Fair Market Rent (FMR) for ZIP 21156 - 2027

Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,480
1 Bedroom	$1,580
2 Bedrooms	$1,950
3 Bedrooms	$2,440
4 Bedrooms	$2,710
5 Bedrooms	$3,144
6 Bedrooms	$3,521
7 Bedrooms	$3,803
8 Bedrooms	$3,993

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

204

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 21156, located in Anne Arundel County, Maryland, is part of a suburban landscape characterized by its proximity to Annapolis and Baltimore. This area offers a mix of residential neighborhoods and access to urban amenities, making it attractive for both homeowners and potential renters. However, the rental market dynamics present a unique challenge for investors looking to capitalize on multifamily properties.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 21156 for fiscal year 2024 is set at $1890. This figure represents the benchmark for affordable housing and can influence rental pricing strategies.
The median home value in this ZIP code is $529,415, indicating a robust homeownership market where property values are relatively high compared to surrounding areas.
Rental share in ZIP 21156 is exceptionally low at 0.0%, suggesting that the majority of residents prefer to own rather than rent their homes. This trend poses challenges for landlords and small-portfolio investors aiming to find tenants.
While the exact days on market (DOM) for rentals is not available, the lack of rental activity implies a slow-moving market where finding suitable tenants could be time-consuming.
The median income figure is not provided, but given the high median home value, it's reasonable to infer that the local economy supports higher-income households, which could impact rental demand and affordability.
The absence of specific market rent data highlights the limited rental activity in the area, reinforcing the challenges faced by those interested in the rental sector.

Synthesizing these points, investors considering the rental market in ZIP 21156 should be cautious due to the extremely low rental share and the lack of detailed market rent data. The high median home value suggests a preference for homeownership, which could limit the pool of potential renters. However, the established fair market rent provides a baseline for pricing, and the area's desirability as a suburban location near major cities offers long-term stability and potential appreciation in property values. For those willing to navigate the challenges, there is potential in the homeownership market, but the rental market remains less promising.

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.