Section 8 Fair Market Rent (FMR) for ZIP 32756 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 in ZIP code 32756, located in Orlando-Kissimmee-Sanford County, Florida, revolve around the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1640 for the fiscal year 2024. This SAFMR is specific to this ZIP code, meaning it reflects the rental rates and living costs unique to this area.

To understand what a landlord receives from a Section 8 voucher, you must first know the components involved. A tenant using a Section 8 voucher typically pays 30% of their adjusted income toward rent. For example, if a tenant's adjusted monthly income is $1000, they would pay $300 toward rent. The remaining balance is then covered by the voucher, up to the SAFMR limit. In this case, the voucher would cover $1340 ($1640 - $300).

Additionally, there are utility allowances that can affect the total reimbursement. Utility allowances vary but are generally capped at a certain amount per unit. For ZIP 32756, the utility allowance for a two-bedroom unit is not specified, so we will use an average figure. Typically, the utility allowance ranges from $200 to $400 per month. Let’s assume a conservative utility allowance of $300 for this ZIP code. This means the total reimbursement a landlord might receive could be up to $1940 ($1640 for rent + $300 for utilities).

However, since the local market rent for a two-bedroom apartment in ZIP 32756 is not available, we cannot directly compare the SAFMR to the market rate. This makes it challenging to determine if landlords will face a surplus or a gap in their rental income. But based on the SAFMR alone, landlords should expect to receive a consistent payment of $1640 for rent plus any applicable utility allowance.

In conclusion, while the exact local market rent is unknown, the SAFMR provides a clear benchmark for what a landlord can expect from a Section 8 voucher in ZIP 32756. Landlords will receive a fixed amount for rent, with additional payments for utilities, ensuring steady income that aligns with the economic conditions of this specific ZIP code. Without the market rent figure, it is impossible to quantify the surplus or gap, but the SAFMR serves as a reliable standard for rental pricing.

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.