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 | $1,390 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,850 |
| 3 Bedrooms | $2,440 |
| 4 Bedrooms | $2,660 |
| 5 Bedrooms | $3,086 |
| 6 Bedrooms | $3,456 |
| 7 Bedrooms | $3,732 |
| 8 Bedrooms | $3,919 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,850 | $220,855 | 0.84% | C |
| 3BR | $2,440 | $299,893 | 0.81% | C |
| 4BR | $2,660 | $388,408 | 0.68% | D |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 landlord in ZIP 32129, Port Orange, FL, include significant tenant turnover. The market rent for properties in this area is $1,705, while the Fair Market Rent (FMR) for FY 2024 stands at $1,520. This discrepancy can lead to higher turnover rates as tenants might seek more affordable housing options outside the Section 8 program. Additionally, the vacancy exposure is notable, with an average Days on Market (DOM) of 56 days, indicating that it takes longer to fill vacancies compared to more active markets. The typical home value in ZIP 32129 is $283,795, while the median household income is $67,924. This suggests that landlords might face deferred maintenance issues due to the financial constraints of tenants, potentially leading to higher repair costs over time.
However, these risks are somewhat mitigated by the high renter share in the area, which is 30.8%. A large proportion of renters typically translates into higher demand for rental properties, including those that accept Section 8 vouchers. This demand can help stabilize occupancy rates and reduce the likelihood of extended vacancy periods. Furthermore, the presence of a substantial number of renters can also contribute to a more vibrant local rental market, which can be beneficial for landlords who are willing to navigate the challenges associated with Section 8 investments.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.