Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,220 |
| 1 Bedroom | $2,310 |
| 2 Bedrooms | $2,560 |
| 3 Bedrooms | $3,260 |
| 4 Bedrooms | $3,840 |
| 5 Bedrooms | $4,454 |
| 6 Bedrooms | $4,988 |
| 7 Bedrooms | $5,387 |
| 8 Bedrooms | $5,656 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 21717 presents a nuanced picture for landlords and small-portfolio investors. The median home value remains undisclosed, as does the percentage of listings that have been reduced in price and the median days on market (DOM). Despite this lack of specificity, trends can still be discerned from the available data.
The Fair Market Rent (FMR) for ZIP 21717, set at $2320 for fiscal year 2024, provides a benchmark for rental pricing. This figure suggests that the rental market is stable, offering consistent returns for those who hold properties long-term. However, without a comparison to the current market rent, it's challenging to assess the immediate opportunities for increasing rental income.
The absence of specific figures regarding median home values and the percentage of reduced listings hints at a market that might be experiencing volatility or a lack of significant transactions. A high number of reduced listings typically indicates a seller's struggle to find buyers willing to pay their asking price, which could suggest downward pressure on property values. Conversely, if DOM is relatively short, it could imply that despite price reductions, there is still strong demand, potentially stabilizing the market.
For long-hold investors, the appreciation thesis in ZIP 21717 is unclear given the missing data points. Typically, areas with stable rental markets and growing populations see steady property value increases. However, without concrete information on population growth, job creation, or other economic drivers, it's difficult to assert a strong appreciation case. Instead, the focus should be on maintaining or slightly increasing rental income while keeping an eye on broader economic indicators that could affect local property values.
In summary, ZIP 21717 offers a stable rental market with a known FMR, but the lack of detailed home value and listing reduction data complicates predictions on property appreciation. Investors should prioritize securing tenants at or near the FMR while being prepared for potential shifts in the housing market that could impact long-term returns.
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.