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St. Mary's County/Callaway/20620

20620

ZIPSAFMR
St. Mary's County, MD
Zillow

ZIP Investment Score

76Below average

095130300
BRFMR
Eff. Rent
0 BR$1,260$1,270
1 BR$1,510$1,520
2 BR$1,650$1,790
3 BR$2,040$2,220
4 BR$2,610$2,650
5 BR$3,001Not available
6 BR$3,452Not available
7 BR$3,969Not available
8 BR$4,565Not available

Purchase Price Calculator

Maximum purchase price
$204,077

Cost breakdown

+Likely effective rent$1,790
HUD FMR$1,650
Market rent$1,860
Est. payment standard (108%)Used$1,790
-Principal and interest-$1,032
Loan amount$163,261
Down payment$40,815
Rate6.50%
Term30 years
-Operating costs-$558
Property taxes-$204
Insurance-$175
Utilities$0
HOA$0
Management-$179
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,741(70.4% ROI)
Projected value
$219,768
Return breakdown
Property appreciation+$15,692
Loan principal paid down+$5,849
Rental cash flow+$7,200
5-year hold
+$49,248(120.7% ROI)
Projected value
$230,894
Return breakdown
Property appreciation+$26,817
Loan principal paid down+$10,431
Rental cash flow+$12,000
10-year hold
+$106,013(259.7% ROI)
Projected value
$261,236
Return breakdown
Property appreciation+$57,159
Loan principal paid down+$24,855
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.99
1 BR
0.99
2 BR
0.89
3 BR
0.88
4 BR
0.98
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 20620 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 20620 (Callaway, MD) is $1,650 a month. That is unchanged from FY 2026. Callaway is in the St. Mary's County, MD HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,787. Among 28 ZIP codes in St. Mary's County, 20620 is tied for the 24th-highest two-bedroom rent (county range $1,650–$2,240). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 20620 is 12% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 20620
BedroomsFY 2027Change90–110% range
Studio$1,260−6.7%$1,134–$1,386
1BR$1,510+2.7%$1,359–$1,661
2BR$1,6500.0%$1,485–$1,815
3BR$2,040−1.0%$1,836–$2,244
4BR$2,610+2.8%$2,349–$2,871

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 20620
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,260$1,510$1,650$2,040$2,610
FY 2026$1,350$1,470$1,650$2,060$2,540
FY 2025$1,330$1,350$1,580$2,050$2,400
FY 2024$1,190$1,210$1,440$1,960$2,230
FY 2023$1,190$1,210$1,450$1,970$2,250

Two-bedroom rent in nearby St. Mary's County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 20620
20606$1,790+8.5%
20609$1,6500.0%
20618$1,720+4.2%
20619$2,060+24.8%
20620Current$1,650—
20621$1,6500.0%
20622$1,820+10.3%
20624$1,6500.0%
20626$1,720+4.2%
20627$1,790+8.5%
20628$1,790+8.5%
20630$1,790+8.5%

Questions about ZIP 20620 rents

How much will Section 8 pay for a two-bedroom in ZIP 20620?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,787, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,608 to $1,966 a month; under the ZIP-level Small Area FMR of $1,650 it would be $1,485 to $1,815. 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 20620 in?

ZIP 20620 is in the St. Mary's County, MD HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,787.

How much did fair market rent change in ZIP 20620 for FY 2027?

The two-bedroom FMR was unchanged at $1,650 in FY 2027. Since FY 2023 it has risen 13.8%.

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 rentCallaway, MD fair market rentMD statewide rentsWhat is SAFMR?Data sources