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Cecil County/Warwick/21912

21912

ZIPSAFMR
Cecil County, MD
Zillow

ZIP Investment Score

92Below average

095130300
BRFMR
Eff. Rent
0 BR$1,210$1,330
1 BR$1,350$1,490
2 BR$1,580$1,740
3 BR$1,910$2,090
4 BR$2,180$2,400
5 BR$2,507Not available
6 BR$2,883Not available
7 BR$3,316Not available
8 BR$3,813Not available

Purchase Price Calculator

Maximum purchase price
$196,647

Cost breakdown

+Likely effective rent$1,740
HUD FMR$1,580
Market rent$1,820
Est. payment standard (110%)Used$1,740
-Principal and interest-$994
Loan amount$157,317
Down payment$39,329
Rate6.50%
Term30 years
-Operating costs-$546
Property taxes-$197
Insurance-$175
Utilities$0
HOA$0
Management-$174
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,957(71.1% ROI)
Projected value
$211,767
Return breakdown
Property appreciation+$15,120
Loan principal paid down+$5,636
Rental cash flow+$7,200
5-year hold
+$47,892(121.8% ROI)
Projected value
$222,488
Return breakdown
Property appreciation+$25,841
Loan principal paid down+$10,051
Rental cash flow+$12,000
10-year hold
+$103,028(262.0% ROI)
Projected value
$251,725
Return breakdown
Property appreciation+$55,078
Loan principal paid down+$23,950
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.58
1 BR
0.75
2 BR
0.87
3 BR
0.87
4 BR
0.74
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 21912 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 21912 (Warwick, MD) is $1,580 a month. That is down 8.1% from $1,720 in FY 2026. Warwick is in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 16 ZIP codes in Cecil County, 21912 has the 10th-highest two-bedroom rent (county range $1,230–$2,200). The median county two-bedroom FMR in Maryland is $1,875, so ZIP 21912 is 16% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 21912
BedroomsFY 2027Change90–110% range
Studio$1,210−8.3%$1,089–$1,331
1BR$1,350−6.9%$1,215–$1,485
2BR$1,580−8.1%$1,422–$1,738
3BR$1,910−7.3%$1,719–$2,101
4BR$2,180−5.2%$1,962–$2,398

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 21912
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,210$1,350$1,580$1,910$2,180
FY 2026$1,320$1,450$1,720$2,060$2,300
FY 2025$1,240$1,370$1,630$1,970$2,240
FY 2024$1,240$1,380$1,650$2,000$2,310
FY 2023$1,030$1,160$1,400$1,710$1,990

Two-bedroom rent in nearby Cecil County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 21912
21903$1,390−12.0%
21904$1,650+4.4%
21911$1,600+1.3%
21912Current$1,580—
21913$1,340−15.2%
21914$1,840+16.5%
21915$1,230−22.2%
21917$1,530−3.2%
21918$1,400−11.4%
21919$2,200+39.2%
21920$1,820+15.2%
21921$1,820+15.2%

Questions about ZIP 21912 rents

How much will Section 8 pay for a two-bedroom in ZIP 21912?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,580, that basic range is $1,422 to $1,738 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 21912 in?

ZIP 21912 is in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 21912 for FY 2027?

The two-bedroom FMR fell 8.1%, from $1,720 in FY 2026 to $1,580 in FY 2027. Since FY 2023 it has risen 12.9%.

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