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Howard County/Glenwood/21738

21738

ZIPSAFMR
Howard County, MD
Zillow

ZIP Investment Score

80Below average

095130300
BRFMR
Eff. Rent
0 BR$1,930$1,930
1 BR$2,060$2,270
2 BR$2,540$2,790
3 BR$3,180$3,280
4 BR$3,530$3,530
5 BR$4,059Not available
6 BR$4,668Not available
7 BR$5,369Not available
8 BR$6,174Not available

Purchase Price Calculator

Maximum purchase price
$352,676

Cost breakdown

+Likely effective rent$2,790
HUD FMR$2,540
Market rent$3,430
Est. payment standard (110%)Used$2,790
-Principal and interest-$1,783
Loan amount$282,141
Down payment$70,535
Rate6.50%
Term30 years
-Operating costs-$807
Property taxes-$353
Insurance-$175
Utilities$0
HOA$0
Management-$279
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$44,426(63.0% ROI)
Projected value
$379,794
Return breakdown
Property appreciation+$27,118
Loan principal paid down+$10,108
Rental cash flow+$7,200
5-year hold
+$76,371(108.3% ROI)
Projected value
$399,021
Return breakdown
Property appreciation+$46,345
Loan principal paid down+$18,026
Rental cash flow+$12,000
10-year hold
+$165,732(235.0% ROI)
Projected value
$451,456
Return breakdown
Property appreciation+$98,779
Loan principal paid down+$42,953
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

1 BR
0.63
2 BR
0.74
3 BR
0.95
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 21738 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 21738 (Glenwood, MD) is $2,540 a month. That is up 8.1% from $2,350 in FY 2026. Glenwood 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 28 ZIP codes in Howard County, 21738 is tied for the 12th-highest two-bedroom rent (county range $1,780–$2,930). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 21738 is 35% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 21738
BedroomsFY 2027Change90–110% range
Studio$1,930+12.2%$1,737–$2,123
1BR$2,060+7.9%$1,854–$2,266
2BR$2,540+8.1%$2,286–$2,794
3BR$3,180+6.7%$2,862–$3,498
4BR$3,530+7.0%$3,177–$3,883

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 21738
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,930$2,060$2,540$3,180$3,530
FY 2026$1,720$1,910$2,350$2,980$3,300
FY 2025$1,780$2,030$2,490$3,200$3,580
FY 2024$1,770$2,030$2,490$3,230$3,650
FY 2023$1,400$1,630$2,010$2,610$2,980

Two-bedroom rent in nearby Howard County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 21738
21076$2,930+15.4%
21104$2,130−16.1%
21150$2,5400.0%
21163$1,780−29.9%
21723$2,120−16.5%
21737$2,5400.0%
21738Current$2,540—
21765$2,5400.0%
21771$2,580+1.6%
21784$2,100−17.3%
21794$2,5400.0%
21797$1,940−23.6%

Questions about ZIP 21738 rents

How much will Section 8 pay for a two-bedroom in ZIP 21738?

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 $2,540 it would be $2,286 to $2,794. 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 21738 in?

ZIP 21738 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 21738 for FY 2027?

The two-bedroom FMR rose 8.1%, from $2,350 in FY 2026 to $2,540 in FY 2027. Since FY 2023 it has risen 26.4%.

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