How many renters live in Lexington Park, Maryland?
The City of Lexington Park has people living in households.
There are renters living in renter households in this City. Renters make up 51.1 percent of the population living in Lexington Park.
What is the rental market like in Lexington Park, Maryland?
There are an estimated housing units in the Lexington Park area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Lexington Park, Maryland, there are 1.1 rental units.
What is the vacancy rate for rentals in Lexington Park?
The rental vacancy rate in Lexington Park is 8 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Lexington Park for each bedroom size?
Occupied Rental Units by Size in Lexington Park
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 87 | 437 | 1,426 | 914 | 147 |
Occupied Rental Units by Size in Lexington Park
A large number of apartments in Lexington Park have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Lexington Park
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,470 to $2,662. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,470 |
| One BR | $1,492 |
| Two BR | $1,755 |
| Three BR | $2,277 |
| Four BR | $2,662 |
2024 Fair Market Rents in Lexington Park, Maryland
How many units are rented at Fair Market Rent (FMR) in Lexington Park?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 47 | 54 percent |
| One BR | 211 | 48 percent |
| Two BR | 395 | 28 percent |
Rental Units Below FMR in Lexington Park, Maryland
How many affordable rental units are in Lexington Park?
There are a variety of federal affordable housing programs serving households in Lexington Park, Maryland including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Lexington Park, Maryland
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Lexington Park, Maryland
Lexington Park features 246 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Lexington Park, Maryland
There are 866 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lexington Park.
Housing Choice Vouchers in Lexington Park, Maryland
On average, Section 8 Housing Choice vouchers pay Lexington Park landlords $1,100 per month towards rent. The average voucher holder contributes $400 towards rent in Lexington Park.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lexington Park, Maryland for a two-bedroom apartment is between $1,580 and $1,931.
Sourced from federal housing data and AffordableHousingOnline.com research.