FMR is near market; voucher and private rents are aligned.
1.08
1 BR
1 BR
0.91ratio
FMR$1,730
Market$1,910
vs market-$180
FMR is near market; voucher and private rents are aligned.
0.91
2 BR
2 BR
0.95ratio
FMR$2,140
Market$2,260
vs market-$120
FMR is near market; voucher and private rents are aligned.
0.95
3 BR
3 BR
0.89ratio
FMR$2,680
Market$3,010
vs market-$330
FMR is below market; voucher rent may lag private rents.
0.89
4 BR
4 BR
0.88ratio
FMR$2,980
Market$3,400
vs market-$420
FMR is below market; voucher rent may lag private rents.
0.88
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
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ZIP 21031 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 21031 (Hunt Valley, MD) is $2,140 a month. That is up 9.2% from $1,960 in FY 2026. Hunt Valley 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 65 ZIP codes in Baltimore County, 21031 is tied for the 13th-highest two-bedroom rent (county range $1,680–$2,480). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 21031 is 14% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 21031
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,440
$1,630
+13.2%
$1,467–$1,793
1BR
$1,590
$1,730
+8.8%
$1,557–$1,903
2BR
$1,960
$2,140
+9.2%
$1,926–$2,354
3BR
$2,490
$2,680
+7.6%
$2,412–$2,948
4BR
$2,760
$2,980
+8.0%
$2,682–$3,278
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 21031
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,630
$1,730
$2,140
$2,680
$2,980
FY 2026
$1,440
$1,590
$1,960
$2,490
$2,760
FY 2025
$1,430
$1,630
$2,000
$2,570
$2,880
FY 2024
$1,410
$1,610
$1,970
$2,560
$2,890
FY 2023
$1,110
$1,290
$1,590
$2,070
$2,370
Two-bedroom rent in nearby Baltimore County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 21031?
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 $2,140 it would be $1,926 to $2,354. 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 21031 in?
ZIP 21031 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 21031 for FY 2027?
The two-bedroom FMR rose 9.2%, from $1,960 in FY 2026 to $2,140 in FY 2027. Since FY 2023 it has risen 34.6%.
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