20901

ZIPSAFMR

Montgomery County, MD

ZIP Investment Score

81Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,890	$1,550	4.8%
1 BR	$1,970	$1,880	5.7%
2 BR	$2,180	$2,400	4.9%
3 BR	$2,780	$2,890	5.8%
4 BR	$3,270	$3,390	5.4%
5 BR	$3,760	Not available	5.4%
6 BR	$4,325	Not available	5.4%
7 BR	$4,973	Not available	5.4%
8 BR	$5,719	Not available	5.4%

Purchase Price Calculator

Maximum purchase price

$294,723

Cost breakdown

+Likely effective rent$2,400

HUD FMR$2,180

Market rent$2,560

Est. payment standard (110%)Used$2,400

-Principal and interest-$1,490

Loan amount$235,778

Down payment$58,945

Rate6.50%

Term30 years

-Operating costs-$710

Property taxes-$295

Insurance-$175

Utilities$0

HOA$0

Management-$240

=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

+$38,309(65.0% ROI)

Projected value

$317,384

Return breakdown

Property appreciation+$22,661

Loan principal paid down+$8,447

Rental cash flow+$7,200

5-year hold

+$65,793(111.6% ROI)

Projected value

$333,451

Return breakdown

Property appreciation+$38,729

Loan principal paid down+$15,064

Rental cash flow+$12,000

10-year hold

+$142,442(241.7% ROI)

Projected value

$377,270

Return breakdown

Property appreciation+$82,547

Loan principal paid down+$35,895

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.22ratio

FMR$1,890

Market$1,550

vs market+$340

FMR is above market; underwrite to market rent.

1.22

1 BR

1.05ratio

FMR$1,970

Market$1,880

vs market+$90

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

1.05

2 BR

0.85ratio

FMR$2,180

Market$2,560

vs market-$380

FMR is below market; voucher rent may lag private rents.

0.85

3 BR

0.94ratio

FMR$2,780

Market$2,950

vs market-$170

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

0.94

4 BR

0.95ratio

FMR$3,270

Market$3,450

vs market-$180

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

0.95

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 20901 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 20901 (Silver Spring, MD) is $2,180 a month. That is up 7.9% from $2,020 in FY 2026. Silver Spring 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, 20901 has the 69th-highest two-bedroom rent (county range $1,200–$3,660). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 20901 is 16% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 20901
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,760	$1,890	+7.4%	$1,701–$2,079
1BR	$1,810	$1,970	+8.8%	$1,773–$2,167
2BR	$2,020	$2,180	+7.9%	$1,962–$2,398
3BR	$2,550	$2,780	+9.0%	$2,502–$3,058
4BR	$3,000	$3,270	+9.0%	$2,943–$3,597

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 20901
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,890	$1,970	$2,180	$2,780	$3,270
FY 2026	$1,760	$1,810	$2,020	$2,550	$3,000
FY 2025	$1,840	$1,880	$2,120	$2,650	$3,130
FY 2024	$1,640	$1,670	$1,890	$2,350	$2,790
FY 2023	$1,480	$1,500	$1,710	$2,140	$2,550

Two-bedroom rent in nearby Montgomery County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 20901
20894	$2,470	+13.3%
20895	$2,520	+15.6%
20896	$3,350	+53.7%
20898	$2,470	+13.3%
20899	$1,200	−45.0%
20901Current	$2,180	—
20902	$2,590	+18.8%
20903	$2,340	+7.3%
20904	$2,310	+6.0%
20905	$2,410	+10.6%
20906	$2,390	+9.6%
20907	$2,470	+13.3%

Questions about ZIP 20901 rents

How much will Section 8 pay for a two-bedroom in ZIP 20901?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,180, that basic range is $1,962 to $2,398 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 20901 in?

ZIP 20901 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 20901 for FY 2027?

The two-bedroom FMR rose 7.9%, from $2,020 in FY 2026 to $2,180 in FY 2027. Since FY 2023 it has risen 27.5%.

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