Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-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 | $1,710 |
| 1 Bedroom | $1,780 |
| 2 Bedrooms | $1,970 |
| 3 Bedrooms | $2,510 |
| 4 Bedrooms | $2,960 |
| 5 Bedrooms | $3,434 |
| 6 Bedrooms | $3,846 |
| 7 Bedrooms | $4,154 |
| 8 Bedrooms | $4,362 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,510 | $367,615 | 0.68% | D |
| 4BR | $2,960 | $522,101 | 0.57% | F |
| 5BR | $3,434 | $640,630 | 0.54% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 21793, located within the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area, does not favor landlords. The Fair Market Rent (FMR) for FY 2024 stands at $1780, while the Census ACS indicates a market rent of $1,537. This suggests that tenants may be more inclined to pay the lower market rate, making it difficult to justify higher rents based on FMR alone.
Acquisition of properties in this area is relatively affordable given the $468,356 median home value. However, the short 16-day Days on Market (DOM) and low 0.2% price-cut share indicate that homes are selling quickly without significant price reductions. This points to a competitive market where potential buyers might struggle to negotiate lower prices.
Tenant demand in ZIP 21793 is moderate. With a total population of 10,719, only 11.9% are renters, which translates to approximately 1,276 rental households. While this represents a sizable tenant pool, the relatively low percentage of renters suggests that the majority of residents prefer homeownership, potentially limiting the number of available tenants.
Based on these factors, ZIP 21793 presents a mixed outlook for landlords and small-portfolio investors. The discrepancy between FMR and market rent rates poses a challenge for setting profitable rental prices. Property acquisition is feasible but may come with competition. Tenant demand is present but not overwhelming, indicating that securing long-term, stable tenancy could require strategic marketing and competitive pricing. Overall, the area offers opportunities but requires careful consideration and management to ensure success.
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.