Location: Crestview-Fort Walton Beach-Destin, FL | Metro: Crestview-Fort Walton Beach-Destin, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,820 |
| 1 Bedroom | $2,190 |
| 2 Bedrooms | $2,450 |
| 3 Bedrooms | $3,360 |
| 4 Bedrooms | $4,100 |
| 5 Bedrooms | $4,756 |
| 6 Bedrooms | $5,327 |
| 7 Bedrooms | $5,753 |
| 8 Bedrooms | $6,041 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 32544 in Crestview-Fort Walton Beach-Destin, FL HUD Metro FMR Area, reveals a clear picture of rental economics. The HUD Fair Market Rent (FMR) for ZIP 32544 is set at $2,020 for fiscal year 2024. In comparison, the Census ACS reports an average market rent of $2,077 for the same area.
Voucher tenants in ZIP 32544 will cashflow at the HUD FMR, meaning landlords can expect to cover their expenses and make a profit without significant financial strain. This is because the HUD FMR is slightly below the average market rent, indicating that voucher payments are sufficient to maintain profitability.
The median home value in ZIP 32544 is not available, which makes deriving a precise rent-to-price ratio challenging. However, the lack of this data does not significantly impact the analysis since the focus is on rental properties rather than home purchases. The days on market (DOM) and the percentage of price cuts are also not applicable in this scenario, as they pertain more to the buying market dynamics rather than the rental market.
The strongest investor angle in ZIP 32544 is cashflow. Given that voucher tenants can cover their rent at the HUD FMR, landlords can expect steady income without the need for premium units to achieve positive cashflow. This makes the area attractive for investors looking to generate reliable rental income through Section 8 participation.
Data Sources: FMR data from HUD (2027). 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.