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 | $1,550 |
| 1 Bedroom | $1,680 |
| 2 Bedrooms | $2,060 |
| 3 Bedrooms | $2,710 |
| 4 Bedrooms | $2,960 |
| 5 Bedrooms | $3,434 |
| 6 Bedrooms | $3,846 |
| 7 Bedrooms | $4,154 |
| 8 Bedrooms | $4,362 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,680 | $304,975 | 0.55% | F |
| 2BR | $2,060 | $468,397 | 0.44% | F |
| 3BR | $2,710 | $706,180 | 0.38% | F |
| 4BR | $2,960 | $1,273,804 | 0.23% | F |
| 5BR | $3,434 | $1,761,742 | 0.19% | F |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 landlord in ZIP code 32169, located in New Smyrna Beach, FL, are significant. First, tenant turnover could be an issue due to the difference between the market rent of $2,718 and the Fair Market Rent (FMR) of $1,820 for fiscal year 2024. This gap may lead to tenants seeking higher subsidies, which can increase the likelihood of turnover. Additionally, vacancy exposure is a concern, with an average Days on Market (DOM) of 103 days, indicating that properties might remain unoccupied for extended periods. This could result in lost rental income and increased costs associated with maintaining vacant properties.
Deferred maintenance is another risk factor, especially considering the typical home value of $544,105 and the median income of $110,968. Landlords must be prepared to invest in property upkeep, as the financial strain on tenants may limit their ability to cover maintenance costs beyond routine repairs. However, these risks must be weighed against the high concentration of renters in the area, with 11.8% of residents being renters. High renter density often translates into a robust demand for housing vouchers, which can stabilize rental income and reduce the impact of vacancy periods.
In conclusion, despite the notable risks, the strong presence of renters and the corresponding demand for Section 8 vouchers mitigate some of the financial uncertainties. Therefore, the overall risk for a first-time Section 8 landlord in ZIP 32169 is moderate.
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.