Section 8 Fair Market Rent (FMR) for ZIP 32173 - 2027
Location: Deltona-Daytona Beach-Ormond Beach, FL | Metro: Deltona-Daytona Beach-Ormond Beach, FL HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| 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 |
To determine if a landlord should invest in ZIP code 32173 for Section 8 properties, follow this decision tree:
- 1) Does the Fair Market Rent (FMR) of $1410 cover the debt service on a property?
- Yes: If the FMR of $1410 is sufficient to cover the mortgage payments and other expenses associated with owning a rental property, then proceed to the next question.
- No: If the FMR of $1410 does not cover the debt service, investing in this area for Section 8 is not advisable.
- 2) Is the market rent above, at, or below the FMR of $1410?
- Above: If the market rent exceeds the FMR, landlords can consider non-Section 8 tenants for higher income. However, this does not directly answer the suitability for Section 8 investment without further data on market rent.
- At: If the market rent equals the FMR, landlords will find that Section 8 tenants pay the full rent, making it a viable option.
- Below: If the market rent is below the FMR, landlords might face challenges in attracting non-Section 8 tenants, thus making Section 8 a more attractive option.
- 3) Do the percentage of renters and the days on market (DOM) indicate sufficient demand?
- N/A% Renters + N/A-day DOM: Without specific percentages of renters and days on market, it's impossible to definitively assess demand. Typically, a high percentage of renters combined with low DOM suggests strong demand. Conversely, low percentages of renters and high DOM indicate weak demand. It depends on the actual figures to make a final decision.
The decision to invest in ZIP 32173 for Section 8 properties hinges on the ability of the FMR to cover debt service, the comparison between market rent and FMR, and the overall demand indicated by the percentage of renters and DOM. Specific data points are required to provide a conclusive recommendation.
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.