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 | $1,730 |
| 1 Bedroom | $1,850 |
| 2 Bedrooms | $2,280 |
| 3 Bedrooms | $2,850 |
| 4 Bedrooms | $3,170 |
| 5 Bedrooms | $3,677 |
| 6 Bedrooms | $4,118 |
| 7 Bedrooms | $4,447 |
| 8 Bedrooms | $4,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,850 | $140,143 | 1.32% | A |
| 2BR | $2,280 | $237,621 | 0.96% | C |
| 3BR | $2,850 | $406,358 | 0.7% | D |
| 4BR | $3,170 | $592,273 | 0.54% | F |
| 5BR | $3,677 | $791,720 | 0.46% | F |
U.S. Census Bureau data (2024)
2050 is the Fair Market Rent (FMR) for ZIP code 21209 in Baltimore, MD, for fiscal year 2024, indicating the maximum amount landlords can charge for a Section 8 voucher. 1758 represents the actual market rent, known as ZORI, which is significantly lower than the FMR, suggesting that landlords could potentially receive higher rents through the Section 8 program compared to the open market. 445124 is the median home value in this area, reflecting the overall property values but not directly impacting rental decisions. 42.5 is the percentage of households that rent, highlighting a substantial demand for rental properties in the area. 91437 is the median income figure, showing that while residents have a modest income, they are still eligible for Section 8 vouchers. N/A indicates that there is no available data on the average days on market (DOM), making it difficult to assess how quickly properties typically rent. However, 0.2 is the percentage of listings that require price cuts, which is very low, suggesting that rental properties are generally priced appropriately and quickly rented without significant adjustments.
Given these figures, landlords and small-portfolio investors should consider Section 8 participation as it offers a stable income source above current market rates. The high renter share and low price-cut share indicate a strong rental market where properties are easily leased. The discrepancy between the FMR and ZORI provides an opportunity for landlords to benefit financially from the program. In conclusion, $2050 FMR exceeds the $1758 market rent, making Section 8 participation a sound investment strategy in ZIP 21209.
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.