20904
ZIPSAFMR
Montgomery County, MD
BRFMR
Eff. Rent
0 BR$1,880$1,580
1 BR$1,940$1,690
2 BR$2,160$2,140
3 BR$2,730$2,830
4 BR$3,200$3,400
5 BR$3,680
6 BR$4,232
7 BR$4,867
8 BR$5,597

Purchase Price Calculator

Maximum purchase price
$256,087

Cost breakdown

+Likely effective rent$2,140
HUD FMR$2,160
Market rentUsed$2,140
Est. payment standard (99%)$2,150
Market rent is below the inferred standard ($2,150, 99% of FMR).
-Principal and interest-$1,295
Loan amount$204,869
Down payment$51,217
Rate6.50%
Term30 years
-Operating costs-$645
Property taxes-$256
Insurance-$175
Utilities$0
HOA$0
Management-$214
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$34,231(66.8% ROI)
Projected value
$275,777
Current value$256,087
Return breakdown
Property appreciation+$19,691
Loan principal paid down+$7,340
Rental cash flow+$7,200
5-year hold
+$58,741(114.7% ROI)
Projected value
$289,739
Current value$256,087
Return breakdown
Property appreciation+$33,652
Loan principal paid down+$13,089
Rental cash flow+$12,000
10-year hold
+$126,915(247.8% ROI)
Projected value
$327,813
Current value$256,087
Return breakdown
Property appreciation+$71,726
Loan principal paid down+$31,189
Rental cash flow+$24,000

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Market Alignment

FMR / market rent by bedroom; grey wings show the 90-110% payment-standard spread.

Studio
Studio
1.19ratio
FMR$1,880
Market$1,580
vs market+$300

FMR is above market; underwrite to market rent.

90% standard$1,692 / 1.07 ratio110% standard$2,068 / 1.31 ratio
1.19
1 BR
1 BR
1.15ratio
FMR$1,940
Market$1,690
vs market+$250

FMR is above market; underwrite to market rent.

90% standard$1,746 / 1.03 ratio110% standard$2,134 / 1.26 ratio
1.15
2 BR
2 BR
1.01ratio
FMR$2,160
Market$2,140
vs market+$20

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

90% standard$1,944 / 0.91 ratio110% standard$2,376 / 1.11 ratio
1.01
3 BR
3 BR
0.95ratio
FMR$2,730
Market$2,880
vs market-$150

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

90% standard$2,457 / 0.85 ratio110% standard$3,003 / 1.04 ratio
0.95
4 BR
4 BR
0.91ratio
FMR$3,200
Market$3,500
vs market-$300

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

90% standard$2,880 / 0.82 ratio110% standard$3,520 / 1.01 ratio
0.91
0.700.800.901.001.101.201.30aligned range

HUD benchmarks exceed market rents for larger unit sizes.

Historical
FY 2022-2026

Data freshness

FMR
FY2026
Market rent
last ~365 days
About this result(HUD FMR/SAFMR details)

This page shows HUD Fair Market Rent data for 20904 (MD) for FY 2026. Fair Market Rent (FMR) is a HUD benchmark used to determine payment standards for programs like the Housing Choice Voucher (Section 8) program.

Values are shown for 0–4 bedroom units. In some metro areas HUD publishes Small Area FMR (SAFMR) at the ZIP-code level; otherwise the county/metropolitan-area FMR applies. This result is labeled SAFMR based on HUD's designation for the area and the available data.

Tip: use these numbers as a starting point and confirm local program rules (payment standards may differ from HUD's published FMR). If you're comparing neighborhoods, SAFMR ZIP ranges can highlight variation within the same county.

20904 fair market rent and Section 8 rent limits

The FY 2026 HUD Small Area Fair Market Rent (SAFMR) page for 20904 shows monthly rent limits by bedroom size for Housing Choice Voucher and Section 8 comparisons. The 2 bedroom fair market rent is $2,160 and the 4 bedroom fair market rent is $3,200.

Use this page for searches like 20904 FMR, 20904 fair market rent, and 20904 Section 8 payment standards. Local housing authorities can set payment standards above or below published HUD FMR, so confirm program rules before underwriting a property.

FY 2026 Fair Market Rent by bedroom size for 20904
Bedroom sizeHUD FMR
Studio$1,880
1 bedroom$1,940
2 bedroom$2,160
3 bedroom$2,730
4 bedroom$3,200