Charles County/Waldorf/20603

20603

ZIPSAFMR

Charles County, MD

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ZIP Investment Score

131High yield potential

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$2,170	$1,320	6.4%
1 BR	$2,270	$1,400	7.4%
2 BR	$2,510	$2,360	6.5%
3 BR	$3,200	$2,790	7.3%
4 BR	$3,770	$3,160	7.1%
5 BR	$4,336	Not available	7.1%
6 BR	$4,986	Not available	7.1%
7 BR	$5,734	Not available	7.1%
8 BR	$6,594	Not available	7.1%

Purchase Price Calculator

Maximum purchase price

$288,779

Cost breakdown

+Likely effective rent$2,360

HUD FMR$2,510

Market rentUsed$2,360

Est. payment standard (96%)$2,410

-Principal and interest-$1,460

Loan amount$231,023

Down payment$57,756

Rate6.50%

Term30 years

-Operating costs-$700

Property taxes-$289

Insurance-$175

Utilities$0

HOA$0

Management-$236

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$37,681(65.2% ROI)

Projected value

$310,983

Return breakdown

Property appreciation+$22,204

Loan principal paid down+$8,277

Rental cash flow+$7,200

5-year hold

+$64,708(112.0% ROI)

Projected value

$326,726

Return breakdown

Property appreciation+$37,948

Loan principal paid down+$14,760

Rental cash flow+$12,000

10-year hold

+$140,053(242.5% ROI)

Projected value

$369,661

Return breakdown

Property appreciation+$80,882

Loan principal paid down+$35,171

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.64ratio

FMR$2,170

Market$1,320

vs market+$850

FMR is above market; underwrite to market rent.

1.64

1 BR

1.62ratio

FMR$2,270

Market$1,400

vs market+$870

FMR is above market; underwrite to market rent.

1.62

2 BR

1.06ratio

FMR$2,510

Market$2,360

vs market+$150

FMR is near market; voucher and private rents are aligned.

1.06

3 BR

1.15ratio

FMR$3,200

Market$2,790

vs market+$410

FMR is above market; underwrite to market rent.

1.15

4 BR

1.19ratio

FMR$3,770

Market$3,160

vs market+$610

FMR is above market; underwrite to market rent.

1.19

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 20603 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 20603 (Waldorf, MD) is $2,510 a month. That is up 9.1% from $2,300 in FY 2026. Waldorf is in the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 26 ZIP codes in Charles County, 20603 has the 10th-highest two-bedroom rent (county range $1,720–$3,310). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 20603 is 34% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 20603
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$2,000	$2,170	+8.5%	$1,953–$2,387
1BR	$2,060	$2,270	+10.2%	$2,043–$2,497
2BR	$2,300	$2,510	+9.1%	$2,259–$2,761
3BR	$2,900	$3,200	+10.3%	$2,880–$3,520
4BR	$3,410	$3,770	+10.6%	$3,393–$4,147

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 20603
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$2,170	$2,270	$2,510	$3,200	$3,770
FY 2026	$2,000	$2,060	$2,300	$2,900	$3,410
FY 2025	$2,050	$2,100	$2,360	$2,950	$3,480
FY 2024	$1,800	$1,830	$2,080	$2,590	$3,070
FY 2023	$1,660	$1,690	$1,920	$2,400	$2,860

Two-bedroom rent in nearby Charles County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 20603
20601	$2,590	+3.2%
20602	$2,260	−10.0%
20603Current	$2,510	—
20604	$2,380	−5.2%
20607	$2,660	+6.0%
20611	$2,380	−5.2%
20612	$2,740	+9.2%
20613	$2,910	+15.9%
20616	$2,770	+10.4%
20617	$2,860	+13.9%
20622	$1,820	−27.5%
20625	$2,350	−6.4%

Questions about ZIP 20603 rents

How much will Section 8 pay for a two-bedroom in ZIP 20603?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,510, that basic range is $2,259 to $2,761 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 20603 in?

ZIP 20603 is in the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 20603 for FY 2027?

The two-bedroom FMR rose 9.1%, from $2,300 in FY 2026 to $2,510 in FY 2027. Since FY 2023 it has risen 30.7%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rent Waldorf, MD fair market rent MD statewide rents What is SAFMR?Data sources