Location: Deltona-Daytona Beach-Ormond Beach, 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 | $1,210 |
| 1 Bedroom | $1,310 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,310 | $100,210 | 1.31% | A |
| 2BR | $1,610 | $159,124 | 1.01% | B |
| 3BR | $2,120 | $226,841 | 0.93% | C |
| 4BR | $2,310 | $252,989 | 0.91% | C |
| 5BR | $2,680 | $301,548 | 0.89% | C |
U.S. Census Bureau data (2024)
The ZIP code 32114, located in Daytona Beach, FL, falls within the Deltona-Daytona Beach-Ormond Beach, FL HUD Metro FMR Area. Its Fair Market Rent (FMR) for FY 2024 is set at $1,350, while the market rent is slightly higher at $1,475. The median home value in this ZIP is $185,153, and it has a renter share of 68.5%.
To contextualize these figures, consider that typical ZIP codes within the Deltona-Daytona Beach-Ormond Beach, FL HUD Metro FMR Area have an FMR around $1,200-$1,500. Market rents generally hover near the FMR, reflecting the local housing market's equilibrium. Median home values across the metro area range from approximately $150,000 to $220,000, indicating a relatively affordable market. Renter shares vary but usually do not exceed 60%.
Based on the specific figures for ZIP 32114, it can be classified as a mid-tier neighborhood within its metro area. The FMR and market rent are in line with what is considered typical for the region, suggesting neither a significant discount nor premium pricing. However, the median home value of $185,153 places it towards the upper end of the spectrum, implying a somewhat higher cost for homeownership compared to other areas.
A notable divergence is the high renter share of 68.5%, which is significantly above the metro average. This characteristic, combined with the below-metro average home values, signals a potential sweet spot for Section 8 properties. High renter share often indicates a strong demand for rental units, particularly those that are subsidized or affordable, making such neighborhoods attractive to landlords looking to serve the needs of lower-income tenants.
In summary, ZIP 32114 offers a balance between mid-tier rental costs and slightly elevated home values, with a pronounced trend towards renting. These conditions suggest a favorable environment for Section 8 investment, given the substantial proportion of renters and the affordability of housing relative to the broader market.
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.