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Anne Arundel County/Annapolis/21401

21401

ZIPSAFMR
Anne Arundel County, MD
Zillow

ZIP Investment Score

75Below average

095130300
BRFMR
Eff. Rent
0 BR$2,040$1,720
1 BR$2,180$1,960
2 BR$2,690$2,410
3 BR$3,360$2,880
4 BR$3,740$3,750
5 BR$4,301Not available
6 BR$4,946Not available
7 BR$5,688Not available
8 BR$6,541Not available

Purchase Price Calculator

Maximum purchase price
$296,209

Cost breakdown

+Likely effective rent$2,410
HUD FMR$2,690
Market rentUsed$2,410
Est. payment standard (93%)$2,510
-Principal and interest-$1,498
Loan amount$236,967
Down payment$59,242
Rate6.50%
Term30 years
-Operating costs-$712
Property taxes-$296
Insurance-$175
Utilities$0
HOA$0
Management-$241
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$38,466(64.9% ROI)
Projected value
$318,984
Return breakdown
Property appreciation+$22,776
Loan principal paid down+$8,490
Rental cash flow+$7,200
5-year hold
+$66,064(111.5% ROI)
Projected value
$335,133
Return breakdown
Property appreciation+$38,924
Loan principal paid down+$15,140
Rental cash flow+$12,000
10-year hold
+$143,039(241.4% ROI)
Projected value
$379,172
Return breakdown
Property appreciation+$82,963
Loan principal paid down+$36,076
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.19
1 BR
1.11
2 BR
1.12
3 BR
1.17
4 BR
1.00
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 21401 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 21401 (Annapolis, MD) is $2,690 a month. That is up 8.5% from $2,480 in FY 2026. Annapolis 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 46 ZIP codes in Anne Arundel County, 21401 has the 16th-highest two-bedroom rent (county range $1,680–$3,010). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 21401 is 43% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 21401
BedroomsFY 2027Change90–110% range
Studio$2,040+12.1%$1,836–$2,244
1BR$2,180+7.9%$1,962–$2,398
2BR$2,690+8.5%$2,421–$2,959
3BR$3,360+6.7%$3,024–$3,696
4BR$3,740+7.2%$3,366–$4,114

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 21401
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,040$2,180$2,690$3,360$3,740
FY 2026$1,820$2,020$2,480$3,150$3,490
FY 2025$1,860$2,120$2,600$3,350$3,740
FY 2024$1,770$2,040$2,500$3,240$3,670
FY 2023$1,420$1,640$2,030$2,630$3,010

Two-bedroom rent in nearby Anne Arundel County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 21401
21144$2,430−9.7%
21146$2,290−14.9%
21225$1,680−37.5%
21226$1,680−37.5%
21240$2,520−6.3%
21401Current$2,690—
21402$3,010+11.9%
21403$2,390−11.2%
21404$2,520−6.3%
21405$2,770+3.0%
21409$2,730+1.5%
21412$2,520−6.3%

Questions about ZIP 21401 rents

How much will Section 8 pay for a two-bedroom in ZIP 21401?

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 $2,690 it would be $2,421 to $2,959. 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 21401 in?

ZIP 21401 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 21401 for FY 2027?

The two-bedroom FMR rose 8.5%, from $2,480 in FY 2026 to $2,690 in FY 2027. Since FY 2023 it has risen 32.5%.

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