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
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Tax rate
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Mortgage rate
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ZIP 21150 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 21150 (Simpsonville, MD) is $2,540 a month. That is up 8.1% from $2,350 in FY 2026. Simpsonville 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 28 ZIP codes in Howard County, 21150 is tied for the 12th-highest two-bedroom rent (county range $1,780–$2,930). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 21150 is 35% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 21150
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,720
$1,930
+12.2%
$1,737–$2,123
1BR
$1,910
$2,060
+7.9%
$1,854–$2,266
2BR
$2,350
$2,540
+8.1%
$2,286–$2,794
3BR
$2,980
$3,180
+6.7%
$2,862–$3,498
4BR
$3,300
$3,530
+7.0%
$3,177–$3,883
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 21150
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,930
$2,060
$2,540
$3,180
$3,530
FY 2026
$1,720
$1,910
$2,350
$2,980
$3,300
FY 2025
$1,780
$2,030
$2,490
$3,200
$3,580
FY 2024
$1,770
$2,030
$2,490
$3,230
$3,650
FY 2023
$1,400
$1,630
$2,010
$2,610
$2,980
Two-bedroom rent in nearby Howard County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 21150?
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 $2,540 it would be $2,286 to $2,794. 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 21150 in?
ZIP 21150 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 21150 for FY 2027?
The two-bedroom FMR rose 8.1%, from $2,350 in FY 2026 to $2,540 in FY 2027. Since FY 2023 it has risen 26.4%.
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