Section 8 Fair Market Rent (FMR) for ZIP 13675 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Skeptical investors looking into ZIP 13675 may have several concerns regarding the feasibility of investing in rental properties under the Section 8 program. Here, we address those key questions using available data.

• Will Fair Market Rent (FMR) of $1210 cover the mortgage on a home? The data indicates that the FMR for ZIP 13675 is set at $1210 for the fiscal year 2024. However, the median home price in this area is not provided, making it impossible to calculate an exact mortgage payment. Without knowing the average home value, we cannot definitively state whether the FMR will cover the mortgage. To make an informed decision, investors should consult local real estate listings and mortgage calculators to estimate their costs.
• Is there sufficient renter demand at 25.0%? The percentage of households renting in ZIP 13675 stands at 25.0%. This figure suggests a moderate level of demand but does not indicate whether it is sufficient to support Section 8 investments. For context, areas with higher percentages of renters might offer more opportunities. Nonetheless, a quarter of households renting implies a stable tenant base, which is essential for long-term investment success. Investors should consider additional factors such as population growth trends and the availability of alternative housing options to gauge the overall demand.
• Will vouchers keep pace with market rents? While the FMR is established at $1210, the data does not provide information on the current market rents or how voucher amounts adjust over time. It's crucial to understand that voucher payments can lag behind market rent increases, potentially leaving investors with less income than anticipated if market rents rise faster than the FMR adjustments. To mitigate this risk, investors should monitor local market conditions and the rate of FMR updates to ensure they align with their financial expectations.

The data presented offers a snapshot of the rental market in ZIP 13675, but it's important to recognize that investing involves more than just these figures. Thorough research and understanding of the local real estate environment are necessary to make informed decisions. Despite the limitations of the provided data, the presence of a consistent 25.0% rental market and the established FMR of $1210 provides a foundation upon which investors can build their analysis.

Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.