Section 8 Fair Market Rent (FMR) for ZIP 21803 - 2027
Location: Salisbury, MD | Metro: Salisbury, MD HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,100 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
To determine if you should buy in ZIP code 21803 for Section 8, follow this decision tree based on the available data:
1) Does the Fair Market Rent (FMR) of $1310 cover the debt service on a property?
- Yes: If your debt service is less than $1310 per month, then the FMR will cover it. Proceed to the next question.
- No: If your debt service exceeds $1310 per month, purchasing a property in ZIP 21803 for Section 8 purposes is not financially viable.
- It Depends: Without specific property details, it's impossible to give a definitive answer. Evaluate your individual financials against the FMR.
2) Is the market rent above, at, or below the FMR of $1310?
- Above: If the market rent is higher than $1310, consider the potential for renting to non-Section 8 tenants who can pay more. However, this reduces the pool of eligible tenants to those on Section 8.
- At: If the market rent equals $1310, then Section 8 tenants can cover the full cost of renting. This makes it an ideal situation for Section 8 landlords.
- Below: If the market rent is lower than $1310, there is a risk that even non-Section 8 tenants might struggle to afford the rent, making it less attractive for investment.
3) Are the number of renters and days on the market sufficient to ensure demand?
- Yes: With a high percentage of renters and low days on the market, there is strong demand for rental properties in this area. This supports the viability of investing in Section 8 properties.
- No: If the percentage of renters is low and the days on the market are high, this indicates weak demand, making it risky to invest in Section 8 properties.
- It Depends: Without specific percentages and days on the market, it's difficult to assess demand accurately. Research further to understand the local rental market dynamics.
Note: The data provided is incomplete with N/A values for market rent, percentage of renters, and days on the market. To make a fully informed decision, you must obtain these figures and reassess the decision tree.
Data Sources: FMR data from HUD (2027).
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.