Location: Talbot County, MD | Metro: Talbot 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 | $1,090 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,990 | $758,719 | 0.26% | F |
| 4BR | $2,400 | $1,446,332 | 0.17% | F |
U.S. Census Bureau data (2024)
The ZIP code 21654, located within the Talbot County, MD metro area, exhibits several unique characteristics when compared to typical ZIP codes in the county. With a Fair Market Rent (FMR) of $1,420 for fiscal year 2026, it aligns closely with the metro average, suggesting that rental prices are neither exceptionally low nor high. However, the lack of specific market rent data for 21654 means we must rely on other indicators to assess its position within the local real estate market.
The median home value in ZIP 21654 stands at a substantial $885,288. This figure suggests that the area is generally more expensive than the average Talbot County ZIP, which typically has lower home values. Therefore, 21654 can be classified as a premium sub-market within its metro area. High-end homes usually attract higher-income residents and are less likely to be occupied by renters receiving Section 8 assistance due to the higher cost of living.
A key indicator for understanding the dynamics of the real estate market in 21654 is its renter share, which is reported at 14.3%. This percentage is relatively low compared to many other areas where Section 8 plays a significant role. In general, a lower renter share indicates fewer properties occupied by tenants receiving federal housing assistance, thus making it less of a value pocket for those seeking to capitalize on Section 8 opportunities.
In summary, ZIP 21654 appears to be a premium sub-market within the Talbot County, MD metro area, characterized by high home values and a relatively low renter share. While the FMR aligns with the metro average, the absence of specific market rent data prevents a definitive conclusion regarding its attractiveness for Section 8 investments. The high median home value suggests that this area caters more to homeowners and investors looking for high-value properties rather than those focusing on affordable rental markets.
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.