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 | $1,300 |
| 1 Bedroom | $1,410 |
| 2 Bedrooms | $1,730 |
| 3 Bedrooms | $2,280 |
| 4 Bedrooms | $2,480 |
| 5 Bedrooms | $2,877 |
| 6 Bedrooms | $3,222 |
| 7 Bedrooms | $3,480 |
| 8 Bedrooms | $3,654 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,410 | $189,257 | 0.75% | D |
| 2BR | $1,730 | $285,696 | 0.61% | D |
| 3BR | $2,280 | $438,806 | 0.52% | F |
| 4BR | $2,480 | $587,533 | 0.42% | F |
| 5BR | $2,877 | $1,218,477 | 0.24% | F |
U.S. Census Bureau data (2024)
The dynamics of the Ormond Beach, FL (ZIP 32176) rental market reveal a scenario where demand closely mirrors supply, but with subtle indications that tenants might face increasing pressure over time. The Fair Market Rent (FMR) for the area stands at $1550 for fiscal year 2024, while the Zillow Observed Rent Index (ZORI) indicates a slightly higher market rent of $2,306. This suggests that the market rent is above the government's benchmark, which could imply that landlords have some pricing power, though it also reflects the local economy's ability to support higher rents.
A 0.2% price-cut share signifies that very few properties are being discounted to attract tenants, indicating a relatively balanced market. However, the Days on Market (DOM) figure of 54 days reveals a slight trend towards slower sales, suggesting that while demand is present, it is not overwhelming. The median home value of $345,354 places homeownership within reach for many, but also highlights the financial commitment required, potentially influencing the decision to rent over buy.
The 16.3% renter share in Ormond Beach points to a significant portion of the population preferring or needing to rent rather than own property. This percentage, while not exceptionally high, does indicate a steady demand for rental properties. Over the long term, a persistent renter share can signal ongoing housing pressure, as renters often represent individuals who are either unable or unwilling to purchase homes, perhaps due to economic factors or lifestyle choices.
In summary, the rental market in Ormond Beach appears to be in a state of equilibrium, with neither an abundance of supply nor a scarcity driving significant change. The higher market rent compared to the FMR, combined with a moderate DOM and a consistent renter share, suggest that the market is stable but with underlying tensions that could lead to increased competition among renters in the future.
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.