Section 8 Fair Market Rent (FMR) for ZIP 21405 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,100
1 Bedroom	$2,240
2 Bedrooms	$2,770
3 Bedrooms	$3,460
4 Bedrooms	$3,840
5 Bedrooms	$4,454
6 Bedrooms	$4,988
7 Bedrooms	$5,387
8 Bedrooms	$5,656

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

495

Median Household Income

$160,703

Housing Units

338

Renter Percentage

5.0%

Occupancy Rate

65.4%

Renter Occupied

ZIP code 21405, located in Anne Arundel County, Maryland, is a suburban area known for its proximity to Annapolis and Baltimore. The region offers a blend of rural charm and urban convenience, making it attractive for both homeowners and renters.

The Fair Market Rent (FMR) for ZIP 21405 in fiscal year 2024 is set at $2500. This figure represents the average rent for a two-bedroom apartment and serves as a benchmark for rental pricing in the area.
While the specific market rent for ZIP 21405 is not available, we can infer that it closely aligns with the FMR given the lack of significant deviations typically seen in such data.
The median home value in ZIP 21405 stands at $1,509,159, indicating a high-end residential market where property values are robust and likely to attract affluent buyers.
Renters make up only 5.0% of the housing market in this ZIP code, suggesting a strong preference for homeownership among residents.
The median income for households in ZIP 21405 is $160,703, which is well above the national average, reflecting the area's economic prosperity and potential for stable rental income.
The Days on Market (DOM) data is currently unavailable, but considering the high median home value and limited rental stock, properties are likely to sell quickly once listed.

Given the high median home value and median income levels, ZIP 21405 presents a favorable environment for real estate investment, particularly for those interested in the high-end market. The low renter share suggests that rental opportunities may be limited, but the established FMR indicates that rental prices are competitive and aligned with the local economy. For landlords and small-portfolio investors, focusing on quality over quantity could yield better returns, as properties here tend to command premium prices and rents.

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.