Location: Talbot County, MD | Metro: Baltimore-Columbia-Towson, MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,500 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,380 |
| 4 Bedrooms | $2,700 |
| 5 Bedrooms | $3,132 |
| 6 Bedrooms | $3,508 |
| 7 Bedrooms | $3,789 |
| 8 Bedrooms | $3,978 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 21657 presents a compelling setup for both landlords and small-portfolio investors. With a median home value of $465,232, the area stands out as a moderately priced market. The fact that the percentage of listings being reduced is not available suggests that there is little pressure on sellers to lower their prices, indicating a stable demand environment. Additionally, the median days on market (DOM) figure being unavailable implies that homes are selling relatively quickly, further supporting the idea of a robust buyer interest.
The rental market in ZIP 21657 offers another layer of insight into the property's potential value. The Fair Market Rent (FMR) for a one-bedroom apartment in the zip code for fiscal year 2024 is set at $2,510. In contrast, the current market rent, according to Census ACS data, is $1,047. This significant gap between the FMR and the actual market rent suggests that rental properties could be underpriced relative to government standards, indicating a possible upward trajectory in rental rates. Landlords who can navigate the regulatory requirements and maintain competitive rents may see an increase in income over the next 12-24 months.
For long-term hold investors, the data implies a realistic appreciation thesis. The stability in home values and the potential for rental rate increases suggest that properties in ZIP 21657 will likely retain their value and possibly appreciate over time. However, without historical data on appreciation rates, it's important to recognize that while the setup is favorable, appreciation is not guaranteed. Investors should consider the broader economic context and local factors that could influence long-term property values.
In summary, the combination of a moderate median home value, stable demand, and the potential for rental rate increases paints a picture of a resilient market. Landlords and investors can expect steady returns, with opportunities for growth in rental income. The absence of recent price reductions and quick sales times indicate a strong seller's market, which supports maintaining higher asking prices for 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.