Section 8 Fair Market Rent (FMR) for ZIP 21750 - 2027

Location: Allegany County, MD | Metro: Hagerstown, MD HUD Metro FMR Area

Investment Score for ZIP 21750

N/A

Monthly Rent (2BR)

$1,160

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$890
2 Bedrooms	$1,160
3 Bedrooms	$1,550
4 Bedrooms	$1,740
5 Bedrooms	$2,018
6 Bedrooms	$2,260
7 Bedrooms	$2,441
8 Bedrooms	$2,563

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,550	$262,537	0.59%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,417

Median Household Income

$60,625

Housing Units

1,818

Renter Percentage

26.1%

Occupancy Rate

89.5%

Renter Occupied

425

The ZIP code 21750, located in Anne Arundel County, Maryland, is a suburban area that offers a blend of quiet living and proximity to urban amenities. The region is characterized by its moderate-sized homes and a mix of family and single dwellers, making it a suitable location for small-portfolio real estate investments.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 21750 for fiscal year 2024 is set at $1040.
The average market rent, according to Census ACS data, is $983 for the same apartment size.
The median home value in this area stands at $255,442, indicating a stable housing market.
Renters make up 26.1% of the housing stock, showing a significant demand for rental properties.
The median income of residents is $60,625, suggesting a middle-class population capable of paying modest rents.

Investors looking to enter the ZIP 21750 market can expect a balanced environment where rental properties are in demand, but competition is also present. With the FMR slightly above the market rent, there's room for landlords to adjust their pricing without alienating tenants. The median home value indicates a relatively affordable market for both purchasing and renting properties. Given the median income level, tenants should be able to afford the current rents, supporting steady cash flow for landlords. However, the lack of data on days on market (DOM) suggests potential variability in how quickly properties might rent out, which could affect the overall investment strategy and timeline for returns.

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.