Location: Dorchester County, MD | Metro: Dorchester County, MD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,300 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,410 |
| 4 Bedrooms | $2,910 |
| 5 Bedrooms | $3,376 |
| 6 Bedrooms | $3,781 |
| 7 Bedrooms | $4,083 |
| 8 Bedrooms | $4,287 |
U.S. Census Bureau data (2024)
ZIP code 21869, located within Dorchester County, MD, has a Fair Market Rent (FMR) of $1,660 for fiscal year 2026. This figure is slightly above the county's average market rent of $1,596. The median home value in 21869 stands at $241,901, which is comparable to other ZIP codes within the same county. A notable feature of 21869 is its relatively high renter share of 14.9%.
To determine if 21869 is a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro area, we must consider the interplay between rental rates and home values. Given that the FMR exceeds the average market rent, yet the home values are on par with other areas in Dorchester County, it suggests that 21869 is a mid-tier neighborhood.
The high renter share combined with a below-metro average home value can indicate an area attractive to renters, especially those who may be part of housing assistance programs such as Section 8. However, since the home value is not significantly below the metro average, and the rental rate is slightly above, 21869 does not fully fit the profile of a Section 8 sweet spot. It is more accurately described as a balanced market where both homeownership and renting are viable options.
Landlords and small-portfolio investors should note that while the rental income potential is slightly higher than the county average, the competition for tenants may also be steeper due to the higher renter share. This could mean a more stable rental market but also a need to ensure properties are well-maintained and competitively priced to attract and retain tenants.
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.