Location: Hagerstown, MD | Metro: Hagerstown, MD HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,700 | $360,534 | 0.47% | F |
| 4BR | $1,900 | $473,129 | 0.4% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 21782 in fiscal year 2024 is set at $1,350. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the rent you will receive; it's the ceiling on what can be charged to tenants participating in the program.
To put this into perspective, the average rent in ZIP 21782 according to the latest Census American Community Survey (ACS) data is $1,147. This suggests that the FMR is slightly higher than the typical market rate, which could be beneficial for landlords looking to offset some of the costs associated with maintaining a rental property.
The renter share in this area is 14.1%, indicating that there is a moderate demand for rental housing. However, given the specifics of the Section 8 program, the demand among eligible tenants could be even higher, as they seek affordable housing options within their budget constraints.
When considering the acquisition cost of a property, the median home value in ZIP 21782 is approximately $344,810. This figure should factor into your decision-making process when determining whether a Section 8 rental fits into your investment strategy. The initial outlay for purchasing a property at this price point needs to be weighed against the potential long-term benefits of having a stable tenant who is guaranteed through the Section 8 voucher system.
Before proceeding with a Section 8 rental in ZIP 21782, it's crucial to verify that your property meets the Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD). These standards ensure that the rental unit is safe, decent, and sanitary for tenants. Passing the HQS inspection is mandatory to participate in the program and will prevent any delays in securing a tenant.
In summary, the FMR of $1,350 offers a clear guideline for pricing your rental under Section 8, while the average rent of $1,147 gives insight into the local market. With a 14.1% renter share, there is a solid demand for rental properties, and the median home value of $344,810 sets the stage for evaluating the financial viability of your investment. Ensure your property complies with HUD’s HQS to avoid any issues and to guarantee a smooth transition into the Section 8 program.
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.