Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,380 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
The ZIP code 21922 belongs to the town of Elkton, Maryland, which is characterized by a unique postal system serving primarily post office boxes. This makes it a distinct small-town setting.
Unfortunately, specific demographic data such as population size, percentage of renters, median income, and median home value for ZIP 21922 are not readily available. However, understanding the broader context of Elkton can still provide valuable insights for Section 8 investors.
The Federal Market Rent (FMR) for ZIP 21922 is set at $1,760 for the fiscal year 2026. This figure is crucial for determining the viability of Section 8 properties in the area. Given the lack of precise local market rent data, the FMR serves as a reliable benchmark for rental income expectations.
For hands-off voucher operators, ZIP 21922 could be a suitable investment location due to the guaranteed rental income provided by the Section 8 program. The absence of detailed local market rent data suggests that the area may not have significant fluctuations in rental prices, making it a stable option.
In contrast, for hands-on value-add buyers, the limited availability of recent data might pose challenges. These investors typically rely on comprehensive market analysis to identify opportunities for property improvements and increased rents. Without specific local market rent figures, it's difficult to assess the potential for value-add strategies.
Ultimately, ZIP 21922 appears to be a stable, small-town investment opportunity for hands-off operators looking for consistent rental income. For those seeking to actively manage and improve properties, further research into the local real estate market would be necessary to make informed decisions.
Data Sources: FMR data from HUD (2027).
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.