Location: Deltona-Daytona Beach-Ormond Beach, FL | Metro: Deltona-Daytona Beach-Ormond Beach, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,290 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,710 |
| 3 Bedrooms | $2,250 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
U.S. Census Bureau data (2024)
1450 is the Fair Market Rent (FMR) for ZIP code 32141 in Edgewater, FL, for fiscal year 2024. This figure represents the maximum amount Section 8 participants can pay towards their housing costs. In contrast, the market rent, known as ZORI, stands at 2215, indicating a significant gap between what the government subsidizes and what the market demands. The median home value in this area is 298475, which suggests a relatively stable housing market, but the 6.2% share of renters points to a smaller demand for rental properties compared to owner-occupied homes. Landlords in Edgewater should note that the median income is 63936, which could influence the pool of potential tenants eligible for Section 8 subsidies. Properties may remain on the market for an average of 51 days before being leased, a duration that could be affected by the Section 8 process. Lastly, the 0.3% price-cut share reflects a low rate of landlords needing to reduce their asking price to attract tenants, suggesting strong pricing power in the local rental market. Given these figures, landlords and small-portfolio investors in Edgewater, FL, should carefully weigh the benefits of accepting Section 8 tenants against the potential delays and administrative complexities involved.
Data Sources: FMR data from HUD (2027). 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.