Location: Crestview-Fort Walton Beach-Destin, FL | Metro: Crestview-Fort Walton Beach-Destin, 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 | $1,240 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,670 |
| 3 Bedrooms | $2,290 |
| 4 Bedrooms | $2,790 |
| 5 Bedrooms | $3,236 |
| 6 Bedrooms | $3,624 |
| 7 Bedrooms | $3,914 |
| 8 Bedrooms | $4,110 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,670 | $244,538 | 0.68% | D |
| 3BR | $2,290 | $309,551 | 0.74% | D |
| 4BR | $2,790 | $518,535 | 0.54% | F |
U.S. Census Bureau data (2024)
The potential pitfalls for a Section 8 landlord in ZIP 32580, located in Eglin AFB, FL, include higher tenant turnover due to the difference between the market rent of $1,366 and the Fair Market Rent (FMR) of $1,530 for FY 2024. This gap can lead to dissatisfaction among tenants who might be expecting a higher rental subsidy. Additionally, vacancy exposure is a significant concern since the days on market (DOM) data is not available, indicating that properties might remain vacant longer than expected, thereby reducing income. The deferred maintenance risk is also noteworthy, considering the typical home value of $332,229 and the median household income of $91,645. Lower incomes may result in tenants being unable to cover non-rent related costs, such as repairs and maintenance, which would then fall to the landlord.
Despite these challenges, the high renter share of 33.4% suggests a robust demand for rental housing, including Section 8 vouchers. High renter density typically translates into a larger pool of potential tenants, which can help mitigate the risks associated with vacancies and turnover. Moreover, the concentration of renters often correlates with a higher number of individuals seeking government assistance, ensuring a steady flow of qualified applicants for Section 8 properties.
Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 32580, Eglin AFB, FL.
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.