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Baltimore County/Essex/21221

21221

ZIPSAFMR
Baltimore County, MD
Zillow

ZIP Investment Score

134High yield potential

095130300
BRFMR
Eff. Rent
0 BR$1,230$1,350
1 BR$1,360$1,460
2 BR$1,680$1,850
3 BR$2,130$2,120
4 BR$2,350$2,450
5 BR$2,703Not available
6 BR$3,108Not available
7 BR$3,574Not available
8 BR$4,110Not available

Purchase Price Calculator

Maximum purchase price
$212,993

Cost breakdown

+Likely effective rent$1,850
HUD FMR$1,680
Market rent$1,940
Est. payment standard (110%)Used$1,850
-Principal and interest-$1,077
Loan amount$170,394
Down payment$42,599
Rate6.50%
Term30 years
-Operating costs-$573
Property taxes-$213
Insurance-$175
Utilities$0
HOA$0
Management-$185
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,682(69.7% ROI)
Projected value
$229,370
Return breakdown
Property appreciation+$16,377
Loan principal paid down+$6,105
Rental cash flow+$7,200
5-year hold
+$50,876(119.4% ROI)
Projected value
$240,982
Return breakdown
Property appreciation+$27,989
Loan principal paid down+$10,887
Rental cash flow+$12,000
10-year hold
+$109,597(257.3% ROI)
Projected value
$272,649
Return breakdown
Property appreciation+$59,656
Loan principal paid down+$25,941
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.85
1 BR
0.89
2 BR
0.87
3 BR
1.00
4 BR
0.94
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 21221 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 21221 (Essex, MD) is $1,680 a month. That is down 5.1% from $1,770 in FY 2026. Essex 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, 21221 is tied for the 56th-highest two-bedroom rent (county range $1,680–$2,480). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 21221 is 10% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 21221
BedroomsFY 2027Change90–110% range
Studio$1,230−3.1%$1,107–$1,353
1BR$1,360−6.2%$1,224–$1,496
2BR$1,680−5.1%$1,512–$1,848
3BR$2,130−6.6%$1,917–$2,343
4BR$2,350−7.8%$2,115–$2,585

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 21221
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,230$1,360$1,680$2,130$2,350
FY 2026$1,270$1,450$1,770$2,280$2,550
FY 2025$1,250$1,430$1,750$2,270$2,570
FY 2024$1,140$1,300$1,600$2,070$2,350
FY 2023$920$1,070$1,320$1,710$1,960

Two-bedroom rent in nearby Baltimore County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 21221
21210$1,870+11.3%
21212$1,820+8.3%
21215$1,6800.0%
21219$1,770+5.4%
21220$2,040+21.4%
21221Current$1,680—
21222$1,710+1.8%
21224$2,290+36.3%
21225$1,6800.0%
21227$1,750+4.2%
21228$1,920+14.3%
21229$1,6800.0%

Questions about ZIP 21221 rents

How much will Section 8 pay for a two-bedroom in ZIP 21221?

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 $1,680 it would be $1,512 to $1,848. 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 21221 in?

ZIP 21221 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 21221 for FY 2027?

The two-bedroom FMR fell 5.1%, from $1,770 in FY 2026 to $1,680 in FY 2027. Since FY 2023 it has risen 27.3%.

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