Howard County/Savage/20763

20763

ZIPSAFMR

Howard County, MD

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ZIP Investment Score

107Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,920	$1,570	8.1%
1 BR	$2,050	$1,540	5.6%
2 BR	$2,530	$2,340	5.7%
3 BR	$3,160	$2,880	4.5%
4 BR	$3,520	$3,350	3.9%
5 BR	$4,048	Not available	3.9%
6 BR	$4,655	Not available	3.9%
7 BR	$5,353	Not available	3.9%
8 BR	$6,157	Not available	3.9%

Purchase Price Calculator

Maximum purchase price

$285,807

Cost breakdown

+Likely effective rent$2,340

HUD FMR$2,530

Market rentUsed$2,340

Est. payment standard (95%)$2,410

-Principal and interest-$1,445

Loan amount$228,645

Down payment$57,161

Rate6.50%

Term30 years

-Operating costs-$695

Property taxes-$286

Insurance-$175

Utilities$0

HOA$0

Management-$234

=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

+$37,368(65.4% ROI)

Projected value

$307,782

Return breakdown

Property appreciation+$21,976

Loan principal paid down+$8,192

Rental cash flow+$7,200

5-year hold

+$64,166(112.3% ROI)

Projected value

$323,364

Return breakdown

Property appreciation+$37,557

Loan principal paid down+$14,608

Rental cash flow+$12,000

10-year hold

+$138,859(242.9% ROI)

Projected value

$365,857

Return breakdown

Property appreciation+$80,050

Loan principal paid down+$34,809

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.22ratio

FMR$1,920

Market$1,570

vs market+$350

FMR is above market; underwrite to market rent.

1.22

1 BR

1.33ratio

FMR$2,050

Market$1,540

vs market+$510

FMR is above market; underwrite to market rent.

1.33

2 BR

1.08ratio

FMR$2,530

Market$2,340

vs market+$190

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

1.08

3 BR

1.10ratio

FMR$3,160

Market$2,880

vs market+$280

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

1.10

4 BR

1.05ratio

FMR$3,520

Market$3,350

vs market+$170

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

1.05

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 20763 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 20763 (Savage, MD) is $2,530 a month. That is up 10.0% from $2,300 in FY 2026. Savage 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, 20763 has the 19th-highest two-bedroom rent (county range $1,780–$2,930). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 20763 is 35% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 20763
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,690	$1,920	+13.6%	$1,728–$2,112
1BR	$1,870	$2,050	+9.6%	$1,845–$2,255
2BR	$2,300	$2,530	+10.0%	$2,277–$2,783
3BR	$2,920	$3,160	+8.2%	$2,844–$3,476
4BR	$3,230	$3,520	+9.0%	$3,168–$3,872

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 20763
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,920	$2,050	$2,530	$3,160	$3,520
FY 2026	$1,690	$1,870	$2,300	$2,920	$3,230
FY 2025	$1,660	$1,890	$2,320	$2,990	$3,340
FY 2024	$1,520	$1,740	$2,140	$2,770	$3,140
FY 2023	$1,190	$1,390	$1,710	$2,220	$2,540

Two-bedroom rent in nearby Howard County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 20763
20701	$2,710	+7.1%
20723	$2,510	−0.8%
20759	$2,570	+1.6%
20763Current	$2,530	—
20777	$2,540	+0.4%
20794	$2,520	−0.4%
20833	$2,580	+2.0%
21029	$2,660	+5.1%
21036	$2,600	+2.8%
21041	$2,540	+0.4%
21042	$2,640	+4.3%
21043	$2,480	−2.0%

Questions about ZIP 20763 rents

How much will Section 8 pay for a two-bedroom in ZIP 20763?

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 $2,530 it would be $2,277 to $2,783. 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 20763 in?

ZIP 20763 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 20763 for FY 2027?

The two-bedroom FMR rose 10.0%, from $2,300 in FY 2026 to $2,530 in FY 2027. Since FY 2023 it has risen 48.0%.

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