Location: Somerset County, MD | Metro: Somerset County, MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The ZIP code 21867 stands out due to its unique demographic and economic characteristics. With only 60 residents, it has the lowest population count among the ZIP codes analyzed. Notably, there is an absence of rental activity, indicated by the 0.0% renting statistic, which suggests that all housing units in this ZIP code are owner-occupied. The lack of available data on median income and median home value further highlights the scarcity of information regarding this area's economic status.
Moving to the voucher economics, the Fair Market Rent (FMR) for ZIP 21867 is set at $1040 for fiscal year 2024. This figure represents the maximum amount that the federal government will pay for rent and utilities for a unit in this ZIP code. However, the absence of comparable market data means that the FMR is the primary reference point for rental costs in the area. Landlords and small-portfolio investors should note that the FMR can serve as a benchmark for setting rental rates, but without local market data, it's challenging to assess how competitive these rates might be.
Given the data signature of ZIP 21867, the environment reads as highly stable. The low population and the complete absence of rental properties suggest a tight-knit community where homeownership is the norm. This stability could be beneficial for long-term investments, as it indicates a lack of significant change or disruption in the housing market. However, the limited population size also means that the potential tenant pool for Section 8 vouchers is small, which could affect the demand for subsidized housing. Investors should consider these factors carefully when evaluating opportunities in this ZIP code.
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.