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 | $1,230 |
| 1 Bedroom | $1,360 |
| 2 Bedrooms | $1,680 |
| 3 Bedrooms | $2,130 |
| 4 Bedrooms | $2,350 |
| 5 Bedrooms | $2,726 |
| 6 Bedrooms | $3,053 |
| 7 Bedrooms | $3,297 |
| 8 Bedrooms | $3,462 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,680 | $96,925 | 1.73% | A+ |
| 3BR | $2,130 | $119,938 | 1.78% | A+ |
| 4BR | $2,350 | $191,215 | 1.23% | A |
| 5BR | $2,726 | $301,733 | 0.9% | C |
U.S. Census Bureau data (2024)
ZIP code 21216, located in Baltimore, MD, falls within the larger Baltimore-Columbia-Towson, MD MSA metro area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1,500, slightly above the market rent of $1,476. The median home value in 21216 stands at $111,077, which is notably lower than the typical home values found across other ZIP codes in the Baltimore-Columbia-Towson MSA.
The renter share in 21216 is 49.8%, indicating a significant portion of the population rents their homes rather than owning them. This figure is comparable to the average renter share seen in many other ZIP codes within the metro area, but when combined with the below-average home values, it suggests that 21216 could be an attractive location for landlords interested in properties that might qualify for Section 8 housing assistance.
Based on these figures, ZIP 21216 appears to be a value pocket within the Baltimore-Columbia-Towson, MD MSA. It offers rental opportunities that align closely with the market rent, while also providing a higher FMR that can support more substantial rental income. Additionally, the relatively low home values make it easier for potential Section 8 tenants to find suitable housing, making it a prime candidate for those seeking to leverage the federal housing program.
A key point of divergence is the combination of a high renter share with below-average home values. This characteristic is often indicative of a sweet spot for Section 8 investments, where the demand for affordable rentals is strong, and the supply of qualifying properties is abundant. Landlords and small-portfolio investors looking to capitalize on this trend should consider acquiring properties in ZIP 21216 to meet the needs of this demographic effectively.
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.