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 | $1,090 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,020 | $290,511 | 0.7% | D |
U.S. Census Bureau data (2024)
The analysis for ZIP 32190 reveals a significant gap between the Fair Market Rent (FMR) set by HUD, which is $1180 for the fiscal year 2024, and the actual market rent, which stands at $1750 according to recent Zillow data. This represents a difference of $570, or approximately 48.4%, between the two figures.
In ZIP 32190, where only 5.6% of residents are renters, and the median home value is $248,548 with a median income of $92,222, landlords must carefully consider the implications of accepting Section 8 voucher tenants. The gap indicates that voucher tenants will pay significantly less than the open-market rate, which could impact the overall yield of the investment property.
Accepting Section 8 tenants in this area is a strategic decision, often driven by the need to fill vacancies rather than maximize rental income. Given the high market rent relative to the FMR, landlords might face challenges in attracting non-voucher tenants willing to pay the higher market rates. Thus, voucher tenants can provide a steady stream of income, albeit at a lower rate than the market, making it a yield play in a niche rental market.
However, landlords should be aware of the potential drawbacks, including the administrative burden of managing Section 8 properties and the risk of lower profitability compared to open-market rentals. Additionally, the lower rent could affect the property's cash flow, especially when considering maintenance costs and other expenses that may not decrease proportionally with the reduction in rental income.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.