Location: Salisbury, MD | Metro: Salisbury, MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,170 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 21856 in fiscal year 2024 is set at $1030. This figure represents the payment standard for Section 8 housing vouchers in your area, meaning that if you choose to participate in the program, the government will pay up to $1030 per month towards rent for eligible tenants.
Note that this $1030 is not necessarily what the tenant will pay; it's the maximum amount the voucher will cover. Landlords can charge more than this amount, but the tenant must make up the difference out-of-pocket, which could limit their ability to afford your property.
In ZIP 21856, 19.4% of residents are renters. This suggests a moderate demand for rental properties, particularly those affordable under the Section 8 program. With a significant portion of the population renting, there is a clear opportunity to attract tenants who need financial assistance to secure housing.
The median home value in this ZIP code is $277,427. This indicates the typical price you might expect to pay for acquiring a property in the area. When considering whether to enter the Section 8 market, you should ensure that the $1030 monthly payment covers your costs effectively, including mortgage payments, maintenance, and other expenses associated with owning a rental property.
To make an informed decision, verify that your potential rental property meets all the necessary requirements for the Section 8 program. These include passing a housing quality standards inspection and ensuring that the rent is reasonable compared to similar units in the area. By doing so, you can confidently proceed knowing that your investment aligns with both the needs of the community and the guidelines of the program.
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.