Location: Kent County, MD | Metro: Kent County, MD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
U.S. Census Bureau data (2024)
In ZIP code 21610, there are notable risks for landlords considering participation in the Section 8 program. Tenant turnover is a significant concern, with the market rent at $1,143 falling slightly below the Fair Market Rent (FMR) of $1,150 for fiscal year 2026 in the metropolitan area. This slight disparity can lead to higher turnover rates as tenants seek to maximize their voucher benefits, potentially resulting in prolonged vacancy periods.
Vacancy exposure is another critical issue. The average days on market (DOM) for properties in this ZIP code is currently unavailable, which suggests that landlords might face unpredictability in how quickly they can fill vacancies, especially when relying on Section 8 tenants. The uncertainty around DOM can translate into extended periods without rental income, increasing financial pressure on landlords.
The deferred maintenance exposure is also noteworthy. With a typical home value of $315,948 and a median income of $86,250, landlords must ensure that their properties meet the necessary standards set by the housing authority. The gap between home values and median incomes implies that many residents may struggle to cover maintenance costs, placing the burden on landlords to maintain property quality, which can be financially demanding.
However, these risks are offset by the high concentration of renters in the area, with 18.2% of the population being renters. High renter density typically correlates with greater demand for rental units, including those participating in the Section 8 program. This increased demand can help mitigate some of the risks associated with tenant turnover and vacancy exposure.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.