Location: Salisbury, MD | Metro: Salisbury, MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,190 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 21814 reveal a market in motion, characterized by specific housing metrics that provide insight into the local real estate landscape. The Fair Market Rent (FMR) stands at $1310 for the fiscal year 2024, indicating the rental value benchmark set by HUD. Despite this figure, the actual market rent remains unspecified, suggesting a gap between government standards and private market realities.
The median home value in ZIP 21814 is $232,281, a figure that encapsulates the average property price within the area. However, without comparative data from previous periods, it's challenging to determine whether this represents an increase or decrease in home values over time. The absence of percentage share for price cuts and days on the market (DOM) further limits our ability to discern the immediate supply-demand balance. Nonetheless, these missing pieces hint at a stable market where neither buyers nor sellers are under significant pressure to make rapid adjustments.
A critical point of interest is the 0.0% renter share, which implies that virtually all households in 21814 are homeowners. This statistic suggests a long-term trend toward ownership, potentially indicating a region with strong economic stability and low turnover rates. The lack of renters could also mean that there is little short-term housing pressure, but it leaves open questions about the availability of rental properties for those seeking them, possibly pointing to a market where demand for rentals is low due to high homeownership rates.
In conclusion, ZIP 21814 presents a market dominated by homeownership, with a stable median home value and a defined fair market rent. The specifics of supply versus demand remain unclear without additional data points, but the high rate of homeownership indicates a long-standing preference for owning over renting, which could mitigate future housing pressures by reducing reliance on the rental market.
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.