At $2,798/mo, rent takes about 17% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,798 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in New Market changed +6.5% over the year to September 2026. Across the 81 Maryland cities Zillow tracks, the typical change was +2.4%.
Rent has risen 8 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($202,872) is $5,072 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($4,290).
Ijamsville, 4 miles away, rents for 20% less ($2,252/mo), about $6,600 a year in savings.
From Zillow's monthly rent index (ZORI) for New Market. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
New Market, MD is majority owner-occupied, has a large share of families with children, has a median income above the national average, 64.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How New Market, MD has changed in 5 years
Household income in the area moved from $175,982 to $202,872 across the same window, up 15.3% versus 2021. The renter share has eased from 8.5% to 3.4%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 70.1% to 64.3% across the same window.
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Can you afford rent in New Market on your salary?
At $2,798/mo, how New Market rent compares to typical pay (30% rule).
New Market rent by bedroom count
Median rent for each apartment size in New Market. Click any size for full breakdown.
Tips for renters in New Market
Last updated: October 17, 2026
The median rent in New Market is $2,798/mo as of October 2026. A studio apartment averages $2,530/mo while a 2-bedroom runs $2,910/mo. One-bedroom apartments average $2,590/mo and 3-bedroom units go for $3,640/mo.
At 17% of local median household income ($202,872/yr), New Market ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.5% over the past year.
Frequently asked questions
How much income do you need to rent in New Market?
Is rent going up or down in New Market?
How does New Market rent compare to other cities in Maryland?
Which nearby cities are cheaper to rent in than New Market?
At $2,798/mo, rent takes ~17% of New Market's median household income ($202,872/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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