Section 8 Fair Market Rent (FMR) for ZIP 21543 - 2027

Location: Allegany County, MD | Metro: Allegany County, MD

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$860
1 Bedroom	$890
2 Bedrooms	$1,010
3 Bedrooms	$1,390
4 Bedrooms	$1,480
5 Bedrooms	$1,717
6 Bedrooms	$1,923
7 Bedrooms	$2,077
8 Bedrooms	$2,181

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

185

Median Household Income

$N/A

Housing Units

122

Renter Percentage

15.6%

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 21543, located in Maryland, offers a stable real estate market for both landlords and small-portfolio investors. The area is characterized by a mix of residential properties, with a significant portion of renters contributing to the local housing economy.

The Fair Market Rent (FMR) for ZIP 21543 in fiscal year 2024 is set at $970, providing a benchmark for rental pricing.
The market rent, as per the latest Census ACS data, stands at $775, indicating a lower average rental price compared to the FMR, which suggests potential for modest rental increases.
Renters make up 15.6% of the housing stock, reflecting a moderate demand for rental properties in the area.
The median home value is not available, but this does not necessarily indicate a lack of opportunity; it simply means that the market dynamics are heavily influenced by rental properties rather than homeownership.
The median income figure is also not available, but given the discrepancy between FMR and market rent, there may be room for adjusting rental prices based on the actual economic conditions of the area.
The Days on Market (DOM) data is not provided, but considering the stable nature of the ZIP code, it's likely that rental properties turn over reasonably quickly, maintaining steady cash flow for investors.

Investors in ZIP 21543 can leverage the gap between the FMR and the current market rent to potentially increase their rental income without significantly deterring tenants. With a solid renter base comprising nearly 16% of the housing units, there is a reliable demand for rental properties. However, the absence of key data points such as median income and DOM underscores the need for thorough local market research to fully understand the opportunities and challenges. Overall, the area presents a balanced investment landscape, suitable for those looking to diversify their real estate portfolios with rental properties.

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.