Section 8 Fair Market Rent (FMR) for ZIP 21777 - 2027

Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area

Investment Score for ZIP 21777

N/A

Monthly Rent (2BR)

$1,820

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	$1,580
1 Bedroom	$1,650
2 Bedrooms	$1,820
3 Bedrooms	$2,320
4 Bedrooms	$2,740
5 Bedrooms	$3,178
6 Bedrooms	$3,559
7 Bedrooms	$3,844
8 Bedrooms	$4,036

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
4BR	$2,740	$594,752	0.46%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,462

Median Household Income

$159,708

Housing Units

817

Renter Percentage

2.4%

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 21777, located in Maryland, represents a niche market characterized by high-end residential properties and a significant homeowner population. The area is known for its affluent residents and limited rental stock, making it particularly challenging for investors looking to enter the rental market.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 21777 for fiscal year 2024 is set at $1850.
The median home value in this ZIP code is $519,114, reflecting the premium nature of the housing market.
Renters represent only 2.4% of the total population, indicating a strong preference for homeownership among residents.
The median household income in ZIP 21777 is $159,708, which is significantly higher than the national average, suggesting a robust local economy.
Due to the scarcity of rental units, the Days on Market (DOM) data is not available, but this implies that rental properties can command premium rates when they do become available.
The lack of specific market rent data underscores the limited rental inventory, which could be an opportunity for investors willing to develop rental properties in this area.

In summary, ZIP 21777 presents a unique challenge and opportunity for real estate investors. With a high median home value and a low percentage of renters, the rental market is sparse but potentially lucrative due to the high median income. Landlords should focus on developing high-quality rental properties that meet the expectations of the area's affluent residents, while small-portfolio investors might find better returns in purchasing homes for owner-occupancy or long-term appreciation rather than short-term rentals.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.