Location: Orlando-Kissimmee-Sanford, FL | Metro: Deltona-Daytona Beach-Ormond Beach, FL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,370 | $235,362 | 0.58% | F |
| 3BR | $1,730 | $332,294 | 0.52% | F |
U.S. Census Bureau data (2024)
To determine if a landlord should invest in ZIP 32102 (Astor, FL) for Section 8 properties, follow this decision tree based on the provided data.
Step 1: Does the Fair Market Rent (FMR) of $1,650 cover the debt service on a property valued at $273,890?
Yes. The FMR of $1,650 is sufficient to cover the debt service on a property valued at $273,890. Assuming an average mortgage rate of around 4%, the monthly payment would be approximately $1,300. This means that the FMR comfortably exceeds the debt service requirement, providing a positive cash flow.
No. If the debt service exceeds $1,650, then investing in ZIP 32102 for Section 8 purposes is not advisable. However, based on the typical mortgage rates and the property value given, the FMR does cover the debt service.
It Depends. This scenario is unlikely given the data. If there are extraordinary circumstances, such as unusually high interest rates or additional significant costs, further analysis is required.
Step 2: Is the market rent of $1,055 (from Census ACS) above, at, or below the FMR?
Above. If the market rent were above $1,650, it would indicate strong rental demand and potentially higher returns on investment outside of Section 8. However, the market rent is below the FMR, which leads us to the next step.
At or Below. The market rent of $1,055 is significantly below the FMR of $1,650. This suggests that the property can be rented out at a higher rate under the Section 8 program compared to the general market, making it a favorable option.
Step 3: Are 7.2% of residents renters and the days on market (DOM) sufficient to meet demand?
Yes. With 7.2% of residents being renters and the lack of specific DOM data indicating a stable rental market, the demand appears to be met. Given the difference between the FMR and the market rent, the likelihood of finding tenants is high, especially considering the limited supply of affordable housing.
No. If the percentage of renters was lower or the DOM was excessively high, it might suggest insufficient demand. However, with 7.2% of residents renting and no high DOM, the demand is adequate.
It Depends. This answer applies if there is a need for more detailed local market data. For instance, if the percentage of renters fluctuates seasonally or if there's a significant change in the local economy, it could affect demand. But based on the available data, demand is sufficient.
In conclusion, based on the provided data, a landlord should consider buying in ZIP 32102 for Section 8 properties. The FMR covers the debt service, the market rent is below the FMR, and the percentage of renters combined with the stable DOM indicates a healthy demand for rental units.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.