Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,720 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,390 |
| 5 Bedrooms | $2,772 |
| 6 Bedrooms | $3,105 |
| 7 Bedrooms | $3,353 |
| 8 Bedrooms | $3,521 |
ZIP code 21203, located within the Baltimore-Columbia-Towson, MD MSA, has a Fair Market Rent (FMR) of $1660 for fiscal year 2024. This figure is key to understanding how it compares to other ZIP codes within the same metro area. While specific market rent and home value data for 21203 are currently unavailable, we can make some inferences based on the FMR.
In the Baltimore-Columbia-Towson, MD MSA, typical ZIP codes often have higher FMRs due to the diverse economic landscape of the region. The presence of universities, government institutions, and a mix of urban and suburban areas contributes to varied rental prices across different neighborhoods. An FMR of $1660 suggests that 21203 could be considered a value pocket within the larger metro area, especially if surrounding ZIP codes have higher FMRs.
The lack of available data on market rent and home values for 21203 means we cannot directly compare these metrics to the broader MSA. However, it's common for value pockets to exhibit lower home values and potentially higher renter shares, which can indicate a strong demand for affordable housing options. If 21203 indeed has a higher-than-average renter share within the MSA, coupled with lower home values, this would reinforce its status as a sweet spot for Section 8 investments.
To determine if 21203 is a value pocket, mid-tier neighborhood, or a premium sub-market, additional research is needed. Specifically, obtaining comparative data on market rents and home values for neighboring ZIP codes will provide clearer insights into the relative position of 21203 within the Baltimore-Columbia-Towson, MD MSA.
Landlords and small-portfolio investors should pay close attention to the FMR of $1660 when considering properties in 21203. This figure aligns well with the income limits for Section 8 tenants, making it a potentially attractive location for those seeking stable rental income through the program.
Data Sources: FMR data from HUD (2027).
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.