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21609

ZIPFMR
Caroline County, MD
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,002$1,002
1 BR$1,009$1,009
2 BR$1,320$1,320
3 BR$1,623$1,623
4 BR$2,188$2,188
5 BR$2,516Not available
6 BR$2,894Not available
7 BR$3,328Not available
8 BR$3,827Not available

Purchase Price Calculator

Maximum purchase price
$134,235

Cost breakdown

+Likely effective rent$1,320
HUD FMRUsed$1,320
Market rentN/A
Est. payment standardN/A
-Principal and interest-$679
Loan amount$107,388
Down payment$26,847
Rate6.50%
Term30 years
-Operating costs-$441
Property taxes-$134
Insurance-$175
Utilities$0
HOA$0
Management-$132
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,369(79.6% ROI)
Projected value
$144,556
Return breakdown
Property appreciation+$10,321
Loan principal paid down+$3,847
Rental cash flow+$7,200
5-year hold
+$36,501(136.0% ROI)
Projected value
$151,875
Return breakdown
Property appreciation+$17,640
Loan principal paid down+$6,861
Rental cash flow+$12,000
10-year hold
+$77,946(290.3% ROI)
Projected value
$171,832
Return breakdown
Property appreciation+$37,597
Loan principal paid down+$16,349
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 21609 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 21609 (Bethlehem, MD) is $1,320 a month. That is up 0.5% from $1,314 in FY 2026. Bethlehem is in the Caroline County, MD non-metropolitan FMR area. One county-wide FMR applies to every ZIP code in it. The median county two-bedroom FMR in Maryland is $1,875, so ZIP 21609 is 30% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 21609
BedroomsFY 2027Change90–110% range
Studio$1,002+0.7%$902–$1,102
1BR$1,009+0.8%$908–$1,110
2BR$1,320+0.5%$1,188–$1,452
3BR$1,623−1.2%$1,461–$1,785
4BR$2,188+0.2%$1,969–$2,407

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 21609
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,002$1,009$1,320$1,623$2,188
FY 2026$995$1,001$1,314$1,642$2,184
FY 2025$981$987$1,295$1,688$2,153
FY 2024$931$938$1,232$1,669$2,058
FY 2023$794$800$1,052$1,426$1,790

Questions about ZIP 21609 rents

How much will Section 8 pay for a two-bedroom in ZIP 21609?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,320, that basic range is $1,188 to $1,452 a month. 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 21609 in?

ZIP 21609 is in the Caroline County, MD non-metropolitan FMR area.

How much did fair market rent change in ZIP 21609 for FY 2027?

The two-bedroom FMR rose 0.5%, from $1,314 in FY 2026 to $1,320 in FY 2027. Since FY 2023 it has risen 25.5%.

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 Fair Market Rents. 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