Location: Somerset County, MD | Metro: Somerset County, 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 | $1,230 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,660 | $252,583 | 0.66% | D |
U.S. Census Bureau data (2024)
15.5% of the population in ZIP code 21871 are renters, indicating a modest demand for rental properties. The Fair Market Rent (FMR) for the area, as determined by HUD for fiscal year 2024, stands at $1040, which is the benchmark for rental pricing. Despite the N/A market rent figure, landlords can use the FMR as a reliable guideline for setting their rental rates. The median home value in the area is $233,984, reflecting the overall housing costs and property values. Landlords should note that the median income of $50,524 may influence tenants' ability to pay higher rents, necessitating a careful balance between affordability and profitability. With the N/A-day DOM (Days on Market) and N/A% price-cut share, it's evident that there isn't sufficient recent data to provide insights into the speed of property sales or the frequency of price reductions, which could be due to a low volume of transactions. However, given the steady FMR and median home value, it's reasonable to assume that the rental market is stable. For Section 8 investors, the combination of a defined FMR and a stable median home value suggests that the program can effectively support rental incomes in this area without significant risk. The modest renter share and median income indicate that while not all potential tenants will qualify, those who do can likely afford the rent. In conclusion, ZIP 21871 presents a viable opportunity for Section 8 investments, with the $1040 FMR aligning well with the local economic conditions.
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.