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Baltimore County/Owings Mills/21117

21117

ZIPSAFMR
Baltimore County, MD
Zillow

ZIP Investment Score

131High yield potential

095130300
BRFMR
Eff. Rent
0 BR$1,780$1,510
1 BR$1,900$1,620
2 BR$2,350$1,920
3 BR$2,940$2,700
4 BR$3,270$2,880
5 BR$3,760Not available
6 BR$4,325Not available
7 BR$4,973Not available
8 BR$5,719Not available

Purchase Price Calculator

Maximum purchase price
$223,395

Cost breakdown

+Likely effective rent$1,920
HUD FMR$2,350
Market rentUsed$1,920
Est. payment standard (90%)$2,120
-Principal and interest-$1,130
Loan amount$178,716
Down payment$44,679
Rate6.50%
Term30 years
-Operating costs-$590
Property taxes-$223
Insurance-$175
Utilities$0
HOA$0
Management-$192
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,780(68.9% ROI)
Projected value
$240,572
Return breakdown
Property appreciation+$17,177
Loan principal paid down+$6,403
Rental cash flow+$7,200
5-year hold
+$52,774(118.1% ROI)
Projected value
$252,751
Return breakdown
Property appreciation+$29,356
Loan principal paid down+$11,418
Rental cash flow+$12,000
10-year hold
+$113,777(254.7% ROI)
Projected value
$285,964
Return breakdown
Property appreciation+$62,569
Loan principal paid down+$27,207
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.18
1 BR
1.17
2 BR
1.22
3 BR
1.09
4 BR
1.14
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 21117 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 21117 (Owings Mills, MD) is $2,350 a month. That is up 7.3% from $2,190 in FY 2026. Owings Mills 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, 21117 has the 4th-highest two-bedroom rent (county range $1,680–$2,480). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 21117 is 25% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 21117
BedroomsFY 2027Change90–110% range
Studio$1,780+10.6%$1,602–$1,958
1BR$1,900+6.7%$1,710–$2,090
2BR$2,350+7.3%$2,115–$2,585
3BR$2,940+5.8%$2,646–$3,234
4BR$3,270+6.2%$2,943–$3,597

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 21117
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,780$1,900$2,350$2,940$3,270
FY 2026$1,610$1,780$2,190$2,780$3,080
FY 2025$1,610$1,840$2,250$2,900$3,240
FY 2024$1,570$1,800$2,210$2,860$3,240
FY 2023$1,260$1,470$1,810$2,350$2,690

Two-bedroom rent in nearby Baltimore County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 21117
21094$1,950−17.0%
21102$1,680−28.5%
21104$2,130−9.4%
21105$1,950−17.0%
21111$1,990−15.3%
21117Current$2,350—
21120$1,950−17.0%
21128$2,190−6.8%
21131$2,400+2.1%
21133$1,960−16.6%
21136$1,910−18.7%
21139$1,950−17.0%

Questions about ZIP 21117 rents

How much will Section 8 pay for a two-bedroom in ZIP 21117?

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 $2,350 it would be $2,115 to $2,585. 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 21117 in?

ZIP 21117 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 21117 for FY 2027?

The two-bedroom FMR rose 7.3%, from $2,190 in FY 2026 to $2,350 in FY 2027. Since FY 2023 it has risen 29.8%.

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 rentOwings Mills, MD fair market rentMD statewide rentsWhat is SAFMR?Data sources