Location: Talbot County, MD | Metro: Baltimore-Columbia-Towson, MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,400 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,360 |
| 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)
To determine if you should buy in ZIP code 21679 for Section 8 investments, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $2,220 cover the debt service on a property valued at $658,798?
No. The FMR of $2,220 does not clear the debt service on a $658,798 property. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. At this property value, even if the rental income were maximized at the FMR, it would likely be insufficient to meet these financial obligations.
2) Is the market rent above, at, or below the FMR?
It depends. The data provided indicates that the market rent is currently N/A, suggesting there isn't enough information to make a direct comparison to the FMR. This could mean the market is either too volatile or there's insufficient data to determine the exact relationship between market rents and the FMR in ZIP 21679.
3) Are 0.0% of renters combined with N/A days of Days on Market (DOM) sufficient to indicate demand?
No. With 0.0% of renters and an unknown number of days on market, there is not enough demand to support a Section 8 investment. A low percentage of renters suggests a limited pool of potential tenants who rely on Section 8 vouchers. Additionally, the lack of data on the days on market implies that properties are either not listed or not attracting interest quickly, which can indicate a weak rental market.
Based on this analysis, the answer to whether you should buy in ZIP 21679 for Section 8 purposes is No. The FMR does not sufficiently cover the debt service on a property of that value, there is insufficient data to gauge the relationship between market rents and the FMR, and the demand indicators suggest a weak rental market.
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.