Section 8 Fair Market Rent (FMR) for ZIP 21770 - 2027
Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $2,140 |
| 1 Bedroom | $2,250 |
| 2 Bedrooms | $2,550 |
| 3 Bedrooms | $3,240 |
| 4 Bedrooms | $3,760 |
| 5 Bedrooms | $4,362 |
| 6 Bedrooms | $4,885 |
| 7 Bedrooms | $5,276 |
| 8 Bedrooms | $5,540 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$183,571
Housing Authorities Serving ZIP 21770
To determine if you should buy in ZIP code 21770 for Section 8 investment, follow this decision tree:
- Does FMR $2020 (zip FY 2024) clear debt service on a $664,792 property?
- Yes: If the Fair Market Rent (FMR) for a 1-bedroom unit is $790, which is the amount set for ZIP 21770 for FY 2024, it would cover the debt service on a property valued at $664,792, assuming standard financing terms.
- No: If the FMR is lower than what's required to cover the debt service on a property costing $664,792, then investing in this area for Section 8 is not financially viable. The FMR must be sufficient to meet monthly mortgage payments, taxes, insurance, and maintenance costs.
- Is market rent above, at, or below FMR?
- Above: If the market rent for properties in ZIP 21770 exceeds the FMR of $790, landlords could potentially earn additional income from non-Section 8 tenants. However, this does not directly impact the viability of Section 8 investments.
- At: If market rents match the FMR exactly, the property will break even with Section 8 tenants, making it a stable but not highly profitable investment.
- Below: If market rents are below the FMR, landlords may find that Section 8 pays more than what they could get from private market tenants, increasing the attractiveness of Section 8 investments.
- Are 1.2% renters + N/A-day DOM enough demand?
- It depends: The percentage of renters in ZIP 21770 being 1.2% indicates a low rental market share, but without knowing the number of days on market (DOM), it's hard to gauge demand accurately. If the DOM is short, it suggests strong demand despite the low percentage of renters. Conversely, if DOM is long, it signals weak demand and potential difficulty in finding Section 8 tenants.
In summary, the decision to invest in ZIP 21770 for Section 8 properties hinges on whether the FMR can cover debt service, the relationship between market rent and FMR, and the strength of demand for rentals. Given the FMR of $790, it can support a property priced at $664,792 under typical financial conditions. Market rent's position relative to FMR further influences profitability, while the demand for rentals must be evaluated based on the DOM figure.
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.