Section 8 Fair Market Rent (FMR) for ZIP 21210 - 2027

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

Investment Score for ZIP 21210

Monthly Rent (2BR)

$1,870

Median Price (2BR)

$250,168

1% Rule

0.75%

Annual Yield

8.97%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,420
1 Bedroom	$1,510
2 Bedrooms	$1,870
3 Bedrooms	$2,340
4 Bedrooms	$2,600
5 Bedrooms	$3,016
6 Bedrooms	$3,378
7 Bedrooms	$3,648
8 Bedrooms	$3,830

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,510	$157,277	0.96%	C
2BR	$1,870	$250,168	0.75%	D
3BR	$2,340	$507,044	0.46%	F
4BR	$2,600	$733,936	0.35%	F
5BR	$3,016	$1,001,645	0.3%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

14,134

Median Household Income

$112,428

Housing Units

5,595

Renter Percentage

38.5%

Occupancy Rate

93.0%

Renter Occupied

2,002

The ZIP code 21210, located in Baltimore, MD, is a vibrant urban neighborhood with a mix of residential properties that cater to both homeowners and renters. The area benefits from its proximity to city amenities while maintaining a sense of community and stability.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 21210 for fiscal year 2024 is set at $1890, providing a benchmark for rental pricing in the area.
The actual market rent, as measured by Zillow's ZORI index, stands at $1,721, indicating that the rental market is slightly below the government's FMR but still competitive.
The median home value in the area is $477,956, reflecting a diverse housing stock that includes both single-family homes and multi-unit buildings.
Renters make up 38.5% of the population, suggesting a significant demand for rental properties alongside owner-occupied homes.
The median household income in ZIP 21210 is $112,428, which is relatively high compared to the state average, indicating a strong economic base that supports rental and homeownership.
The Days on Market (DOM) for properties is not available, which could imply either a very active market where listings sell quickly or a less active market where listings linger without being updated.

Given the data, investors should note that the rental market in ZIP 21210 is robust, with a sizeable portion of residents choosing to rent rather than buy. The median income supports higher-than-average rents, and the FMR provides a guideline for setting competitive rates. However, the lack of DOM data means that investors must be cautious about the speed at which they can expect to turn over properties or the accuracy of their listing timelines. Overall, the area presents a solid investment opportunity for those willing to engage in thorough local market research.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.