Location: Garrett County, MD | Metro: Garrett County, MD
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 | $850 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $348,831 | 0.29% | F |
| 3BR | $1,350 | $463,133 | 0.29% | F |
| 4BR | $1,390 | $746,166 | 0.19% | F |
| 5BR | $1,612 | $1,076,156 | 0.15% | F |
U.S. Census Bureau data (2024)
The ZIP code 21541, located in Mc Henry, MD within Garrett County, stands out due to its relatively low population density with only 1,335 residents. Despite the small number of inhabitants, the area has a robust median income of $82,955, which is higher than many similar rural areas. The median home value in this ZIP is $625,462, indicating a strong property market. However, only 14.8% of the residents rent their homes, suggesting that homeownership is prevalent.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,040, while the current market rent based on Census ACS data is $893. This difference means that landlords can potentially receive a higher rental rate through the Section 8 program compared to the local market rates. The gap between FMR and market rent provides a financial incentive for landlords to participate in the Section 8 program, as they can cover the costs associated with maintaining their properties more effectively.
The data signature for ZIP 21541 reads as stable. With a high median income and median home value, the area demonstrates economic stability. Additionally, the significant homeownership rate suggests a community that is settled and not experiencing rapid demographic changes. The slight disparity between the FMR and market rent further supports a stable environment, where the government's subsidy levels are designed to meet the needs of both tenants and landlords without causing major disruptions in the housing market.
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.