Howard County/Laurel/20723

20723

ZIPSAFMR

Howard County, MD

View on ZillowZillow

ZIP Investment Score

87Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,910	$1,550	2.6%
1 BR	$2,030	$1,680	0.0%
2 BR	$2,510	$2,280	0.3%
3 BR	$3,140	$2,620	-0.9%
4 BR	$3,490	$3,460	-1.5%
5 BR	$4,013	Not available	-1.5%
6 BR	$4,616	Not available	-1.5%
7 BR	$5,308	Not available	-1.5%
8 BR	$6,104	Not available	-1.5%

Purchase Price Calculator

Maximum purchase price

$276,891

Cost breakdown

+Likely effective rent$2,280

HUD FMR$2,510

Market rentUsed$2,280

Est. payment standard (94%)$2,360

-Principal and interest-$1,400

Loan amount$221,512

Down payment$55,378

Rate6.50%

Term30 years

-Operating costs-$680

Property taxes-$277

Insurance-$175

Utilities$0

HOA$0

Management-$228

=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

+$36,427(65.8% ROI)

Projected value

$298,181

Return breakdown

Property appreciation+$21,290

Loan principal paid down+$7,936

Rental cash flow+$7,200

5-year hold

+$62,538(112.9% ROI)

Projected value

$313,276

Return breakdown

Property appreciation+$36,386

Loan principal paid down+$14,152

Rental cash flow+$12,000

10-year hold

+$135,276(244.3% ROI)

Projected value

$354,443

Return breakdown

Property appreciation+$77,553

Loan principal paid down+$33,723

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.23ratio

FMR$1,910

Market$1,550

vs market+$360

FMR is above market; underwrite to market rent.

1.23

1 BR

1.21ratio

FMR$2,030

Market$1,680

vs market+$350

FMR is above market; underwrite to market rent.

1.21

2 BR

1.10ratio

FMR$2,510

Market$2,280

vs market+$230

FMR is above market; underwrite to market rent.

1.10

3 BR

1.20ratio

FMR$3,140

Market$2,620

vs market+$520

FMR is above market; underwrite to market rent.

1.20

4 BR

1.01ratio

FMR$3,490

Market$3,460

vs market+$30

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

1.01

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 20723 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 20723 (Laurel, MD) is $2,510 a month. That is up 8.2% from $2,320 in FY 2026. Laurel is in the Baltimore-Columbia-Towson, MD MSA. 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 $2,006. Among 28 ZIP codes in Howard County, 20723 has the 21st-highest two-bedroom rent (county range $1,780–$2,930). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 20723 is 34% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 20723
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,700	$1,910	+12.4%	$1,719–$2,101
1BR	$1,890	$2,030	+7.4%	$1,827–$2,233
2BR	$2,320	$2,510	+8.2%	$2,259–$2,761
3BR	$2,950	$3,140	+6.4%	$2,826–$3,454
4BR	$3,260	$3,490	+7.1%	$3,141–$3,839

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 20723
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,910	$2,030	$2,510	$3,140	$3,490
FY 2026	$1,700	$1,890	$2,320	$2,950	$3,260
FY 2025	$1,780	$2,020	$2,480	$3,190	$3,570
FY 2024	$1,770	$2,030	$2,490	$3,230	$3,650
FY 2023	$1,420	$1,640	$2,030	$2,630	$3,010

Two-bedroom rent in nearby Howard County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 20723
20701	$2,710	+8.0%
20723Current	$2,510	—
20759	$2,570	+2.4%
20763	$2,530	+0.8%
20777	$2,540	+1.2%
20794	$2,520	+0.4%
20833	$2,580	+2.8%
21029	$2,660	+6.0%
21036	$2,600	+3.6%
21041	$2,540	+1.2%
21042	$2,640	+5.2%
21043	$2,480	−1.2%

Questions about ZIP 20723 rents

How much will Section 8 pay for a two-bedroom in ZIP 20723?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,006, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,805 to $2,207 a month; under the ZIP-level Small Area FMR of $2,510 it would be $2,259 to $2,761. 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 20723 in?

ZIP 20723 is in the Baltimore-Columbia-Towson, MD MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,006.

How much did fair market rent change in ZIP 20723 for FY 2027?

The two-bedroom FMR rose 8.2%, from $2,320 in FY 2026 to $2,510 in FY 2027. Since FY 2023 it has risen 23.6%.

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