Location: Salisbury, MD | Metro: Salisbury, MD HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 21840, located in Salisbury, MD, is best suited as an appreciation play within a Section 8 portfolio strategy. Although the data does not provide specific market values or median income figures for ZIP 21840, the lack of detailed market data suggests that there might be untapped potential for growth in property values.
The Fair Market Rent (FMR) for ZIP 21840 in fiscal year 2024 is set at $1310, which is the amount landlords can expect to receive per unit through the Section 8 program. This figure is crucial for understanding the baseline rental income in the area. However, without comparative market data, it's difficult to assess the immediate cash flow potential relative to other areas.
The median home value in ZIP 21840 is $258,784, indicating that while the area may not offer the highest rental yields, it has a solid foundation for long-term investment. The absence of percentage changes in home values or days on market (DOM) figures means that we cannot quantify the exact rate of appreciation or liquidity in the housing market. Nonetheless, the stability suggested by the median home value supports the notion of an appreciation play.
The 31.8% renter share in ZIP 21840 makes it a viable option for diversification within a Section 8 portfolio. This high proportion of renters implies a strong demand for affordable housing, which aligns well with the objectives of the Section 8 program. Landlords can capitalize on this demand by investing in properties that cater to low-income tenants, ensuring steady occupancy rates and predictable cash flows.
Despite the limited data, ZIP 21840 presents itself as an appreciation play due to its stable median home value and significant renter population. These factors suggest that while immediate returns might not be exceptionally high, the long-term potential for property value growth and steady rental income make it a valuable addition to a Section 8 portfolio strategy.
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.