Section 8 Fair Market Rent (FMR) for ZIP 29290 - 2027

FY 2027 Fair Market Rent Rates

To determine if a landlord should invest in ZIP code 29290 for Section 8 properties, follow this decision tree:

• 1) Does the Fair Market Rent (FMR) of $1290 cover the debt service on a property?
  • Yes: If the FMR of $1290 is sufficient to cover the monthly mortgage payments and other expenses associated with owning a rental property, then proceed to the next question.
  • No: If the FMR does not clear the debt service, purchasing a property in ZIP 29290 would not be financially viable under the Section 8 program.
• 2) Is the market rent above, at, or below the FMR?
  • Above: If the market rent exceeds $1290, landlords can consider renting to non-Section 8 tenants to maximize income. However, this does not directly impact the suitability of the area for Section 8 investments.
  • At or Below: If the market rent is at or below the FMR, the area is more suitable for Section 8 investments since the rent subsidy will align closely with market conditions.
• 3) Are there enough renters and days on the market (DOM) to ensure demand?
  • It Depends: The percentage of renters and the DOM figures are missing for ZIP 29290. To make an informed decision, landlords need to assess local rental trends. High percentages of renters and low DOM indicate strong demand, which is favorable for Section 8 investments.

The critical factor is whether the FMR of $1290 can support the financial obligations of owning a rental property in 29290. Without specific market rent and rental demand data, landlords must conduct additional research to understand the local rental market dynamics.

Data Sources: FMR data from HUD (2027).

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.