Section 8 Fair Market Rent (FMR) for ZIP 32614 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 32614, located in Florida, offers a unique blend of suburban living and access to urban amenities, making it a desirable location for both homeowners and renters. The area is characterized by its moderate climate, which supports year-round outdoor activities, and its proximity to larger cities, providing residents with ample employment opportunities and cultural attractions.

• The Fair Market Rent (FMR) for ZIP 32614 in fiscal year 2024 is set at $1410. This figure represents the threshold for rental properties to qualify under the Section 8 program, indicating that rents below this amount can attract subsidized tenants.
• The market rent for the area is currently N/A. Without specific data on market rents, it's challenging to compare the actual rental prices against the FMR, but landlords should aim to stay competitive while ensuring their units meet Section 8 requirements.
• The median home value in ZIP 32614 is listed as N/A. This lack of data suggests either a limited number of homes sold recently or a focus on rentals over homeownership in the area.
• The percentage of the population that are renters is N/A. A higher renter share typically indicates greater demand for rental properties, which could be beneficial for landlords and small-portfolio investors.
• The average days on market (DOM) for rental listings is N/A. This metric would help gauge how quickly rental properties are being leased, offering insights into the speed of the local rental market.
• The median household income in ZIP 32614 is also N/A. Understanding the financial health of the local population is crucial for assessing the ability of potential tenants to afford housing.

Investors in ZIP 32614 should focus on properties that can qualify for the Section 8 program given the established FMR of $1410. While specific market rent data is unavailable, staying below the FMR can attract a steady stream of tenants. The lack of data on median home values and renter share suggests a strong rental market, but further research is needed to confirm these trends. Investors should also be prepared for potentially longer leasing periods if the DOM is higher than average, and consider the local economic conditions when setting rental prices to ensure affordability for tenants.

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.