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Montgomery County/Silver Spring/20905

20905

ZIPSAFMR
Montgomery County, MD
Zillow

ZIP Investment Score

83Below average

095130300
BRFMR
Eff. Rent
0 BR$2,090$1,820
1 BR$2,180$1,800
2 BR$2,410$2,350
3 BR$3,070$2,770
4 BR$3,620$3,580
5 BR$4,163Not available
6 BR$4,787Not available
7 BR$5,506Not available
8 BR$6,331Not available

Purchase Price Calculator

Maximum purchase price
$287,293

Cost breakdown

+Likely effective rent$2,350
HUD FMR$2,410
Market rentUsed$2,350
Est. payment standard (98%)$2,370
-Principal and interest-$1,453
Loan amount$229,834
Down payment$57,459
Rate6.50%
Term30 years
-Operating costs-$697
Property taxes-$287
Insurance-$175
Utilities$0
HOA$0
Management-$235
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$37,525(65.3% ROI)
Projected value
$309,383
Return breakdown
Property appreciation+$22,090
Loan principal paid down+$8,234
Rental cash flow+$7,200
5-year hold
+$64,437(112.1% ROI)
Projected value
$325,045
Return breakdown
Property appreciation+$37,753
Loan principal paid down+$14,684
Rental cash flow+$12,000
10-year hold
+$139,456(242.7% ROI)
Projected value
$367,759
Return breakdown
Property appreciation+$80,466
Loan principal paid down+$34,990
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.15
1 BR
1.21
2 BR
1.03
3 BR
1.11
4 BR
1.01
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 20905 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 20905 (Silver Spring, MD) is $2,410 a month. That is up 9.5% from $2,200 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, 20905 has the 59th-highest two-bedroom rent (county range $1,200–$3,660). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 20905 is 29% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 20905
BedroomsFY 2027Change90–110% range
Studio$2,090+9.4%$1,881–$2,299
1BR$2,180+10.7%$1,962–$2,398
2BR$2,410+9.5%$2,169–$2,651
3BR$3,070+10.4%$2,763–$3,377
4BR$3,620+11.0%$3,258–$3,982

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 20905
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,090$2,180$2,410$3,070$3,620
FY 2026$1,910$1,970$2,200$2,780$3,260
FY 2025$1,970$2,020$2,270$2,840$3,350
FY 2024$1,790$1,820$2,070$2,580$3,050
FY 2023$1,670$1,700$1,930$2,410$2,880

Two-bedroom rent in nearby Montgomery County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 20905
20898$2,470+2.5%
20899$1,200−50.2%
20901$2,180−9.5%
20902$2,590+7.5%
20903$2,340−2.9%
20904$2,310−4.1%
20905Current$2,410—
20906$2,390−0.8%
20907$2,470+2.5%
20910$2,800+16.2%
20911$2,470+2.5%
20912$2,090−13.3%

Questions about ZIP 20905 rents

How much will Section 8 pay for a two-bedroom in ZIP 20905?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,410, that basic range is $2,169 to $2,651 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 20905 in?

ZIP 20905 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 20905 for FY 2027?

The two-bedroom FMR rose 9.5%, from $2,200 in FY 2026 to $2,410 in FY 2027. Since FY 2023 it has risen 24.9%.

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 rentSilver Spring, MD fair market rentMD statewide rentsWhat is SAFMR?Data sources