Location: Salisbury, MD | Metro: Salisbury, 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 | $980 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,680 | $299,563 | 0.56% | F |
U.S. Census Bureau data (2024)
The ZIP code 21849 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern due to the disparity between the market rent at $1,200 and the Fair Market Rent (FMR) of $1,210 for FY 2024. This narrow margin can lead to higher tenant mobility, as individuals may seek more affordable housing options outside of the Section 8 program. Additionally, vacancy exposure is a risk factor given the lack of data on Days on Market (DOM), which makes it difficult to predict how quickly units can be filled. The typical home value in this area stands at $312,788, while the median income is $71,211, suggesting that many homeowners might be under financial strain, potentially leading to deferred maintenance and lower-quality properties overall.
Despite these risks, the high renter share of 23.9% in ZIP 21849 indicates a strong demand for rental housing, which often translates into a robust need for Section 8 vouchers. This high concentration of renters increases the likelihood of finding tenants who qualify for the program, thereby reducing the risk of prolonged vacancies.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.