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Queen Anne's County/Henderson/21640

21640

ZIPSAFMR
Queen Anne's County, MD
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$1,460$1,460
1 BR$1,470$1,470
2 BR$1,920$1,920
3 BR$2,360$2,360
4 BR$3,130$3,130
5 BR$3,599Not available
6 BR$4,139Not available
7 BR$4,760Not available
8 BR$5,474Not available

Purchase Price Calculator

Maximum purchase price
$223,395

Cost breakdown

+Likely effective rent$1,920
HUD FMRUsed$1,920
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,130
Loan amount$178,716
Down payment$44,679
Rate6.50%
Term30 years
-Operating costs-$590
Property taxes-$223
Insurance-$175
Utilities$0
HOA$0
Management-$192
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,780(68.9% ROI)
Projected value
$240,572
Return breakdown
Property appreciation+$17,177
Loan principal paid down+$6,403
Rental cash flow+$7,200
5-year hold
+$52,774(118.1% ROI)
Projected value
$252,751
Return breakdown
Property appreciation+$29,356
Loan principal paid down+$11,418
Rental cash flow+$12,000
10-year hold
+$113,777(254.7% ROI)
Projected value
$285,964
Return breakdown
Property appreciation+$62,569
Loan principal paid down+$27,207
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
--
Tax rate
--
Mortgage rate
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ZIP 21640 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 21640 (Henderson, MD) is $1,920 a month. That is up 4.3% from $1,840 in FY 2026. Henderson 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 16 ZIP codes in Queen Anne's County, 21640 has the 6th-highest two-bedroom rent (county range $1,680–$2,380). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 21640 is 2% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 21640
BedroomsFY 2027Change90–110% range
Studio$1,460+5.0%$1,314–$1,606
1BR$1,470+1.4%$1,323–$1,617
2BR$1,920+4.3%$1,728–$2,112
3BR$2,360+2.6%$2,124–$2,596
4BR$3,130+4.0%$2,817–$3,443

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 21640
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,460$1,470$1,920$2,360$3,130
FY 2026$1,390$1,450$1,840$2,300$3,010
FY 2025$1,250$1,430$1,750$2,270$2,570
FY 2024$1,040$1,190$1,460$1,890$2,140
FY 2023$860$1,020$1,260$1,630$1,870

Two-bedroom rent in nearby Queen Anne's County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 21640
21617$1,720−10.4%
21619$2,320+20.8%
21620$1,680−12.5%
21623$1,680−12.5%
21628$1,680−12.5%
21638$2,090+8.9%
21640Current$1,920—
21644$1,860−3.1%
21649$1,800−6.2%
21651$1,680−12.5%
21657$1,840−4.2%
21658$2,180+13.5%

Questions about ZIP 21640 rents

How much will Section 8 pay for a two-bedroom in ZIP 21640?

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 $1,920 it would be $1,728 to $2,112. 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 21640 in?

ZIP 21640 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 21640 for FY 2027?

The two-bedroom FMR rose 4.3%, from $1,840 in FY 2026 to $1,920 in FY 2027. Since FY 2023 it has risen 52.4%.

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

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