Location: Caroline County, MD | Metro: Caroline 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 | $1,030 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $2,240 |
| 5 Bedrooms | $2,598 |
| 6 Bedrooms | $2,910 |
| 7 Bedrooms | $3,143 |
| 8 Bedrooms | $3,300 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $233,721 | 0.58% | F |
| 3BR | $1,660 | $334,184 | 0.5% | F |
| 4BR | $2,240 | $395,420 | 0.57% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 21629 in Denton, MD, is set at $1,400 for metro fiscal year 2026. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay to cover the rent of a Section 8 tenant in your area. It is not the amount you can charge for rent; it's the reimbursement limit.
To put this into perspective, the average rent in ZIP 21629, according to the Census Bureau's American Community Survey (ACS), is $1,133. This suggests that the FMR is higher than the typical market rate, which could be beneficial if you're looking to participate in the Section 8 program.
The rental market in Denton has a strong demand, with 33.6% of residents being renters. This indicates a significant portion of the population that could potentially benefit from Section 8 assistance, thereby creating a steady stream of potential tenants.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in ZIP 21629 is around $361,116. This gives you an idea of the investment required to enter the market. However, it’s important to note that the FMR does not guarantee a profit; it only ensures that you receive a certain amount of rent from HUD.
Before committing to a Section 8 rental, you should verify that your property meets all the necessary inspection criteria. HUD requires that all properties leased under the Section 8 program pass a thorough inspection to ensure they meet the Housing Quality Standards (HQS). These standards are designed to ensure that the homes are safe and habitable for tenants. Failure to meet these standards could result in your property being ineligible for the program, regardless of the FMR or other factors.
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.