Location: Deltona-Daytona Beach-Ormond Beach, FL | Metro: Deltona-Daytona Beach-Ormond Beach, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,260 |
| 1 Bedroom | $1,360 |
| 2 Bedrooms | $1,670 |
| 3 Bedrooms | $2,200 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
The Section 8 market analysis for ZIP code 32721, located in Volusia County, Florida, reveals several key insights for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area stands at $1410 for fiscal year 2024. However, the lack of specific market rent data makes it challenging to provide a direct comparison. Based on the available HUD FMR, voucher tenants will generally cashflow at the FMR rate, though the exact margin depends on the specific unit's condition and location.
To derive the rent-to-price ratio, we would typically compare the monthly rental income to the median home value. Unfortunately, the median home value for ZIP 32721 is not provided, which limits our ability to calculate an accurate rent-to-price ratio. This metric is crucial for understanding the relative affordability of renting versus buying in the area. Without it, we can infer that the rental market is likely influenced by the broader housing trends in the region, but specific conclusions about the rent-to-price ratio cannot be drawn.
The days on market (DOM) and the percentage of price cuts are also critical indicators of the local real estate market dynamics. These figures help gauge how quickly properties sell and the level of negotiation in the market. In this case, both the median DOM and the price-cut share percentages are not available, indicating that we must rely on other metrics to assess the investment climate.
Given the limited data, the strongest investor angle in ZIP 32721 appears to be cashflow. With voucher tenants able to cover the HUD FMR, landlords can expect steady, government-backed rental income, which provides a reliable financial base. While appreciation and stability are important factors, the predictability of cashflow from Section 8 vouchers offers a compelling reason for investors to consider this area.
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.