Location: Talbot County, MD | Metro: Talbot County, MD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,970 |
| 4 Bedrooms | $2,370 |
| 5 Bedrooms | $2,749 |
| 6 Bedrooms | $3,079 |
| 7 Bedrooms | $3,325 |
| 8 Bedrooms | $3,491 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 21624, located in Talbot County, Maryland, reveals several key points for potential Section 8 landlords and small-portfolio investors.
The first consideration is whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2026 is set at $1,410. However, the market rent data is currently unavailable, which makes it difficult to directly compare these figures. Without this comparison, it's challenging to determine if the rental income will be sufficient to cover operational costs and provide a profit margin.
Regarding acquisition affordability, the median home value in ZIP 21624 stands at $444,620. This figure indicates that purchasing property in this area can be costly, but it does not provide enough context on its own. The average number of days on market (DOM) and the percentage of homes that required a price cut to sell are also missing, which would have been crucial for assessing the ease and cost-effectiveness of acquiring properties in this area.
Tenant demand is another critical factor. The total population of ZIP 21624 is 162, with 32.8% of residents being renters. This suggests a relatively small pool of potential tenants, which could impact the likelihood of finding qualified Section 8 applicants. Given the low population, the number of eligible renters might be limited, affecting occupancy rates and overall demand.
In conclusion, while the median home value of $444,620 in ZIP 21624 poses a significant barrier to entry for acquisition, the lack of market rent data complicates the assessment of whether the rental income aligns with the operational costs. Additionally, the small population size of 162 and a renter share of 32.8% imply a limited tenant pool, which could challenge the sustainability of a rental business in this area. Therefore, prospective landlords should proceed with caution, considering the high property values and potentially low demand for rentals before investing in this ZIP code.
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.