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Howard County/West Friendship/21794

21794

ZIPSAFMR
Howard County, MD
Zillow

ZIP Investment Score

74Below average

095130300
BRFMR
Eff. Rent
0 BR$1,930$2,120
1 BR$2,060$2,200
2 BR$2,540$2,690
3 BR$3,180$3,280
4 BR$3,530$3,700
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
$337,816

Cost breakdown

+Likely effective rent$2,690
HUD FMR$2,540
Market rent$2,770
Est. payment standard (106%)Used$2,690
-Principal and interest-$1,708
Loan amount$270,253
Down payment$67,563
Rate6.50%
Term30 years
-Operating costs-$782
Property taxes-$338
Insurance-$175
Utilities$0
HOA$0
Management-$269
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$42,857(63.4% ROI)
Projected value
$363,791
Return breakdown
Property appreciation+$25,975
Loan principal paid down+$9,683
Rental cash flow+$7,200
5-year hold
+$73,658(109.0% ROI)
Projected value
$382,208
Return breakdown
Property appreciation+$44,392
Loan principal paid down+$17,267
Rental cash flow+$12,000
10-year hold
+$159,760(236.5% ROI)
Projected value
$432,434
Return breakdown
Property appreciation+$94,617
Loan principal paid down+$41,143
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.86
1 BR
0.91
2 BR
0.92
3 BR
0.95
4 BR
0.93
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 21794 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 21794 (West Friendship, MD) is $2,540 a month. That is up 8.1% from $2,350 in FY 2026. West Friendship 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, 21794 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 21794 is 35% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 21794
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 21794
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$1,760$2,020$2,480$3,210$3,640
FY 2023$1,370$1,590$1,960$2,550$2,920

Two-bedroom rent in nearby Howard County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 21794
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%
21738$2,5400.0%
21765$2,5400.0%
21771$2,580+1.6%
21784$2,100−17.3%
21794Current$2,540—
21797$1,940−23.6%

Questions about ZIP 21794 rents

How much will Section 8 pay for a two-bedroom in ZIP 21794?

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 21794 in?

ZIP 21794 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 21794 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 29.6%.

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