Carroll County/Westminster/21158

21158

ZIPSAFMR

Carroll County, MD

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ZIP Investment Score

102Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,620	$1,350	2.8%
1 BR	$1,720	$1,420	0.2%
2 BR	$2,130	$1,800	0.5%
3 BR	$2,660	$2,320	-0.7%
4 BR	$2,960	$2,760	-1.3%
5 BR	$3,404	Not available	-1.3%
6 BR	$3,915	Not available	-1.3%
7 BR	$4,502	Not available	-1.3%
8 BR	$5,177	Not available	-1.3%

Purchase Price Calculator

Maximum purchase price

$205,563

Cost breakdown

+Likely effective rent$1,800

HUD FMR$2,130

Market rentUsed$1,800

Est. payment standard (90%)$1,920

-Principal and interest-$1,039

Loan amount$164,450

Down payment$41,113

Rate6.50%

Term30 years

-Operating costs-$561

Property taxes-$206

Insurance-$175

Utilities$0

HOA$0

Management-$180

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$28,898(70.3% ROI)

Projected value

$221,369

Return breakdown

Property appreciation+$15,806

Loan principal paid down+$5,892

Rental cash flow+$7,200

5-year hold

+$49,519(120.4% ROI)

Projected value

$232,575

Return breakdown

Property appreciation+$27,013

Loan principal paid down+$10,507

Rental cash flow+$12,000

10-year hold

+$106,611(259.3% ROI)

Projected value

$263,138

Return breakdown

Property appreciation+$57,575

Loan principal paid down+$25,036

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.20ratio

FMR$1,620

Market$1,350

vs market+$270

FMR is above market; underwrite to market rent.

1.20

1 BR

1.21ratio

FMR$1,720

Market$1,420

vs market+$300

FMR is above market; underwrite to market rent.

1.21

2 BR

1.18ratio

FMR$2,130

Market$1,800

vs market+$330

FMR is above market; underwrite to market rent.

1.18

3 BR

1.15ratio

FMR$2,660

Market$2,320

vs market+$340

FMR is above market; underwrite to market rent.

1.15

4 BR

1.07ratio

FMR$2,960

Market$2,760

vs market+$200

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

1.07

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: --

ZIP 21158 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 21158 (Westminster, MD) is $2,130 a month. That is up 6.0% from $2,010 in FY 2026. Westminster 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 15 ZIP codes in Carroll County, 21158 is tied for the 2nd-highest two-bedroom rent (county range $1,260–$2,580). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 21158 is 14% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 21158
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,470	$1,620	+10.2%	$1,458–$1,782
1BR	$1,630	$1,720	+5.5%	$1,548–$1,892
2BR	$2,010	$2,130	+6.0%	$1,917–$2,343
3BR	$2,550	$2,660	+4.3%	$2,394–$2,926
4BR	$2,830	$2,960	+4.6%	$2,664–$3,256

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 21158
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,620	$1,720	$2,130	$2,660	$2,960
FY 2026	$1,470	$1,630	$2,010	$2,550	$2,830
FY 2025	$1,510	$1,720	$2,110	$2,720	$3,030
FY 2024	$1,490	$1,710	$2,100	$2,720	$3,080
FY 2023	$1,170	$1,350	$1,670	$2,170	$2,480

Two-bedroom rent in nearby Carroll County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 21158
21048	$1,690	−20.7%
21074	$1,680	−21.1%
21102	$1,680	−21.1%
21104	$2,130	0.0%
21136	$1,910	−10.3%
21155	$1,810	−15.0%
21157	$1,680	−21.1%
21158Current	$2,130	—
21757	$1,650	−22.5%
21771	$2,580	+21.1%
21776	$1,560	−26.8%
21784	$2,100	−1.4%

Questions about ZIP 21158 rents

How much will Section 8 pay for a two-bedroom in ZIP 21158?

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 $2,130 it would be $1,917 to $2,343. 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 21158 in?

ZIP 21158 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 21158 for FY 2027?

The two-bedroom FMR rose 6.0%, from $2,010 in FY 2026 to $2,130 in FY 2027. Since FY 2023 it has risen 27.5%.

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 rent Westminster, MD fair market rent MD statewide rents What is SAFMR?Data sources