Location: Washington-Arlington-Alexandria, DC | Metro: Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,040 |
| 1 Bedroom | $2,120 |
| 2 Bedrooms | $2,350 |
| 3 Bedrooms | $2,990 |
| 4 Bedrooms | $3,530 |
| 5 Bedrooms | $4,095 |
| 6 Bedrooms | $4,586 |
| 7 Bedrooms | $4,953 |
| 8 Bedrooms | $5,201 |
The market dynamics in ZIP code 22403, located in Washington D.C., reveal a neighborhood that is currently experiencing significant housing pressure. The Fair Market Rent (FMR) for the area stands at $1850 for the fiscal year 2024, indicating a robust rental market. However, the lack of available market rent data suggests that the official rental rates might be closely aligned with the FMR, or there could be an underreporting of actual rents due to the competitive nature of the market.
The absence of data on the percentage of price-cut share and days on market (DOM) implies that the rental listings are quickly absorbed, which points towards a scenario where demand exceeds supply. This is further corroborated by the unknown median home value, suggesting a transient population or a high proportion of renters, which is characteristic of areas with intense housing competition.
ZIP 22403's undefined percentage of renter share is a critical indicator of long-term housing pressure. In many urban settings, a high renter share can signal persistent demand for rental properties, often driven by factors such as job availability, affordability, and lifestyle preferences. The unknown figure here could mean that the area has a dynamic mix of renters and homeowners, but it leans towards a strong rental presence given the other indicators. Landlords and small-portfolio investors should expect continuous interest in their properties, though they must also be prepared for potential challenges in maintaining occupancy rates amid fluctuating economic conditions.
In summary, ZIP 22403 appears to be a market where demand significantly outpaces supply, driven by a strong rental environment and likely high renter share. The Fair Market Rent at $1850 provides a baseline for understanding the rental landscape, while the scarcity of other data points hints at a fast-moving market with considerable competition for units. For those looking to invest, this ZIP code offers opportunities but requires vigilance to keep pace with the market's rapid changes.
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.