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 | $1,100 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,530 | $219,340 | 0.7% | D |
| 3BR | $2,020 | $299,219 | 0.68% | D |
| 4BR | $2,190 | $361,413 | 0.61% | D |
U.S. Census Bureau data (2024)
The ZIP code 32132, located in Edgewater, FL, has a population of 7,868 residents. At 17.2%, the percentage of renters is relatively low compared to the national average, indicating that this area is more homeowner-dominated rather than renter-heavy. This suggests that the demand for Section 8 vouchers in the area is likely to be less intense, making it a moderately competitive environment for landlords seeking tenants who rely on housing assistance.
The median household income in ZIP 32132 stands at $52,181, which provides a benchmark for assessing the affordability of rents in the area. The typical market rent of $1,166 represents approximately 26% of the median household income. This figure highlights that the cost of rent is a significant portion of the average income, suggesting that tenants may have limited disposable income for other expenses.
Comparing the market rent to the Fair Market Rent (FMR), which is set at $1,180 for FY 2024, reveals that the actual rents in Edgewater are slightly below the FMR. This could imply that landlords might have some flexibility in setting their rents, but they should remain close to the FMR to attract Section 8 tenants effectively.
A landlord in Edgewater should expect tenants who are likely to be financially constrained due to the high proportion of income dedicated to rent. These tenants will heavily rely on the Section 8 program to afford housing. It's important to note that while the voucher demand is present, it is not as deep as in areas with higher percentages of renters. Landlords should prepare for a tenant pool that requires regular assistance and possibly more frequent communication regarding financial matters.
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.