Location: Deltona-Daytona Beach-Ormond Beach, FL | Metro: Deltona-Daytona Beach-Ormond Beach, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,260 |
| 1 Bedroom | $1,360 |
| 2 Bedrooms | $1,670 |
| 3 Bedrooms | $2,200 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
The Fair Market Rent (FMR) for ZIP code 32170 in Florida for fiscal year 2024 is set at $1410. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, but it does not necessarily mean that you will receive this exact amount. The Housing Choice Voucher Program, commonly known as Section 8, pays the difference between the FMR and 30% of the tenant's income.
In ZIP 32170, the local median rent is currently listed as N/A, which means there isn't enough data available to compare it directly with the FMR. However, the percentage of renters in the area is N/A%, indicating a significant portion of the population relies on rental housing. This suggests a steady demand for rentals, particularly those affordable through programs like Section 8.
The acquisition cost for properties in this ZIP code is also noted as N/A, which typically refers to the average price paid for acquiring rental properties. Without specific numbers, it's challenging to provide a direct comparison, but knowing the FMR can help guide your pricing expectations when considering a Section 8 rental.
Before deciding to participate in the Section 8 program with a property in ZIP 32170, you should verify that your rental unit meets the minimum property standards set by the housing authority. These standards ensure that the property is safe, decent, and sanitary for tenants. Failure to meet these standards can result in rejection or penalties.
In summary, the FMR of $1410 sets the upper limit for rent under Section 8, and while specific local rent figures are unavailable, the high percentage of renters indicates strong demand. Ensure your property meets the required standards to avoid any issues.
Data Sources: FMR data from HUD (2027).
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.