Location: Worcester County, MD | Metro: Worcester County, MD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,330 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $2,200 |
| 4 Bedrooms | $2,660 |
| 5 Bedrooms | $3,086 |
| 6 Bedrooms | $3,456 |
| 7 Bedrooms | $3,732 |
| 8 Bedrooms | $3,919 |
U.S. Census Bureau data (2024)
1220 is the Fair Market Rent (FMR) for ZIP code 21841 as of fiscal year 2024, setting a benchmark for rental properties eligible for Section 8 assistance. 1689 is the average market rent reported by the Census Bureau's American Community Survey, indicating a slight premium over the FMR for many units in this area. 360,331 represents the median home value in the region, suggesting a middle-class neighborhood where homeownership is a significant factor. 31.8 is the percentage of households that are renters, highlighting a substantial demand for rental properties in 21841. Despite these figures, the median income for the area is not available, making it challenging to assess the financial stability of potential tenants. Similarly, the days on market (DOM) and the percentage of homes with price cuts are also unavailable, which could be crucial metrics for understanding the local real estate market dynamics. Without these specific details, it's important to rely on the FMR and market rent figures to ensure that rental properties are priced competitively yet remain accessible to Section 8 participants. Given the high renter share and the established FMR, landlords and small-portfolio investors should consider focusing on affordable housing options that align closely with the 1220 FMR to attract and retain tenants effectively. The market rent at 1689 suggests there might be room to slightly increase rents above the FMR while still remaining competitive. However, the lack of detailed income data means that thorough background checks and credit assessments will be essential before leasing to any tenant, especially those relying on Section 8 vouchers. In conclusion, 21841 presents a viable opportunity for Section 8 investments, particularly in properties priced around the FMR, but caution is advised due to the absence of key economic indicators.
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.