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Montgomery County/Garrett Park/20896

20896

ZIPSAFMR
Montgomery County, MD
Zillow

ZIP Investment Score

83Below average

095130300
BRFMR
Eff. Rent
0 BR$2,900$1,960
1 BR$3,030$2,270
2 BR$3,350$2,890
3 BR$4,270$3,460
4 BR$5,030$3,440
5 BR$5,785Not available
6 BR$6,652Not available
7 BR$7,650Not available
8 BR$8,798Not available

Purchase Price Calculator

Maximum purchase price
$367,536

Cost breakdown

+Likely effective rent$2,890
HUD FMR$3,350
Market rentUsed$2,890
Est. payment standard (91%)$3,050
-Principal and interest-$1,858
Loan amount$294,029
Down payment$73,507
Rate6.50%
Term30 years
-Operating costs-$832
Property taxes-$368
Insurance-$175
Utilities$0
HOA$0
Management-$289
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$45,994(62.6% ROI)
Projected value
$395,796
Return breakdown
Property appreciation+$28,260
Loan principal paid down+$10,534
Rental cash flow+$7,200
5-year hold
+$79,083(107.6% ROI)
Projected value
$415,834
Return breakdown
Property appreciation+$48,297
Loan principal paid down+$18,786
Rental cash flow+$12,000
10-year hold
+$171,704(233.6% ROI)
Projected value
$470,478
Return breakdown
Property appreciation+$102,941
Loan principal paid down+$44,763
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.48
1 BR
1.33
2 BR
1.16
3 BR
1.23
4 BR
1.46
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 20896 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 20896 (Garrett Park, MD) is $3,350 a month. That is up 8.8% from $3,080 in FY 2026. Garrett Park 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 77 ZIP codes in Montgomery County, 20896 has the 4th-highest two-bedroom rent (county range $1,200–$3,660). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 20896 is 79% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 20896
BedroomsFY 2027Change90–110% range
Studio$2,900+8.2%$2,610–$3,190
1BR$3,030+9.8%$2,727–$3,333
2BR$3,350+8.8%$3,015–$3,685
3BR$4,270+9.8%$3,843–$4,697
4BR$5,030+10.1%$4,527–$5,533

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 20896
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,900$3,030$3,350$4,270$5,030
FY 2026$2,680$2,760$3,080$3,890$4,570
FY 2025$2,300$2,340$2,640$3,300$3,900
FY 2024$2,040$2,070$2,350$2,920$3,460
FY 2023$1,870$1,900$2,160$2,700$3,230

Two-bedroom rent in nearby Montgomery County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 20896
20889$2,980−11.0%
20891$2,470−26.3%
20892$2,470−26.3%
20894$2,470−26.3%
20895$2,520−24.8%
20896Current$3,350—
20898$2,470−26.3%
20899$1,200−64.2%
20901$2,180−34.9%
20902$2,590−22.7%
20903$2,340−30.1%
20904$2,310−31.0%

Questions about ZIP 20896 rents

How much will Section 8 pay for a two-bedroom in ZIP 20896?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,350, that basic range is $3,015 to $3,685 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 20896 in?

ZIP 20896 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 20896 for FY 2027?

The two-bedroom FMR rose 8.8%, from $3,080 in FY 2026 to $3,350 in FY 2027. Since FY 2023 it has risen 55.1%.

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