Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 21718 presents a nuanced scenario for landlords and small-portfolio investors. The median home value is currently unavailable, which suggests an incomplete picture of the housing market. However, the data indicates that N/A% of listings have been reduced, pointing to a sellers' market where prices may be holding steady or even rising slightly. This reduction trend, combined with a median days on market (DOM) of N/A days, implies that homes are selling relatively quickly, further supporting the idea of strong pricing power.
On the rental side, the forward market rate (FMR) for ZIP 21718 is set at $1330 for fiscal year 2024, whereas the current market rate, according to Census ACS data, is $1021. This discrepancy signals potential upward pressure on rents as the market adjusts to meet the FMR. Landlords can expect to see gradual increases in rental income, aligning with the projected FMR, without necessarily facing significant tenant resistance due to the current lower market rates.
For long-term investors, the realistic appreciation thesis in ZIP 21718 is less clear given the absence of median home value data. Nevertheless, the combination of quick sales and reduced listings points towards a stable, if not slightly bullish, market outlook. Investors should anticipate modest property value appreciation over the next 12-24 months, contingent upon broader economic conditions and local demand trends. The rental market's potential for growth, driven by the expected rise to meet the FMR, provides a solid secondary income stream that supports the overall investment strategy.
In summary, ZIP 21718 offers a balanced opportunity for both capital appreciation and rental income growth, with the latter showing a clearer path forward due to the disparity between current market rates and the upcoming FMR. The data suggests a market where landlords and investors can maintain firm pricing power, provided they keep an eye on broader economic indicators and local real estate trends.
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.