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 ZIP code 32753 in Florida presents an interesting scenario for both renters and landlords. The median income for households in this area is currently unknown, as is the specific market rate for rentals. However, we do know the Fair Market Rent (FMR) standard for Housing Choice Vouchers, which stands at $1410 for zip code 32753 for fiscal year 2024.
Given the lack of data on median income and market rates, it's challenging to assess the overall affordability gap. But with the voucher payment standard set at $1410, it indicates that the government aims to support rental costs up to this amount, suggesting that this could be a reasonable benchmark for affordable rents in the area.
The percentage of renters and the total population in ZIP 32753 is also unspecified, making it difficult to gauge the level of competition among landlords. However, understanding the voucher payment standard is crucial for landlords when deciding whether to accept vouchers or focus on cash-paying tenants.
Takeaway for Landlords: In ZIP 32753, setting rental prices around $1410 could attract a significant portion of the rental market, especially those who rely on Housing Choice Vouchers. This pricing strategy aligns with government standards and likely meets the budget constraints of many potential tenants. For landlords considering their options between voucher and cash-pay strategies, focusing on voucher acceptance might provide a steady stream of tenants, though it requires adherence to HUD regulations. Cash pay strategies could offer higher flexibility but must be priced competitively to attract tenants in a potentially tight market.
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.