Location: Baltimore-Columbia-Towson, MD | Metro: Baltimore-Columbia-Towson, MD MSA
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 | $1,660 |
| 1 Bedroom | $1,770 |
| 2 Bedrooms | $2,180 |
| 3 Bedrooms | $2,730 |
| 4 Bedrooms | $3,030 |
| 5 Bedrooms | $3,515 |
| 6 Bedrooms | $3,937 |
| 7 Bedrooms | $4,252 |
| 8 Bedrooms | $4,465 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,730 | $518,388 | 0.53% | F |
| 4BR | $3,030 | $766,014 | 0.4% | F |
U.S. Census Bureau data (2024)
In ZIP 21658, the Section 8 economics are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1920 per month for fiscal year 2024. This rate is specific to this ZIP code, meaning it is tailored to reflect the rental costs in this particular area. In comparison, the local market rent for a similar unit is $1750 according to the Census ACS.
The SAFMR rate is the maximum amount that the housing authority will pay on behalf of the tenant. However, the actual reimbursement to landlords is influenced by several factors including the tenant's contribution and any utility allowances. Tenants typically contribute 30% of their adjusted income towards rent, and the government covers the difference up to the SAFMR rate. Utility allowances can vary but generally provide additional funds to cover electricity, gas, water, and sewer costs.
To illustrate, if a tenant's share of the rent is $500, the housing authority would pay the remaining $1420 to reach the total SAFMR of $1920. If the utility allowance is $100, the landlord receives an extra $100, bringing the total reimbursement to $1520. Therefore, in this scenario, the landlord would receive $1520 from the housing authority plus $500 from the tenant, totaling $2020 for a 2BR unit.
If the local market rent is $1750, then the landlord would have a surplus when considering the typical reimbursement under Section 8. The surplus in this case would be $270 per month, calculated as follows: $2020 (total reimbursement) - $1750 (local market rent) = $270 (surplus).
This analysis shows that landlords in ZIP 21658 can expect a higher reimbursement rate than the local market rent for a two-bedroom apartment, leading to a positive financial outcome. The SAFMR rate ensures that landlords are paid closer to the higher end of the rental spectrum in this area, rather than the average market rate.
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.