Location: Orlando-Kissimmee-Sanford, FL | Metro: Orlando-Kissimmee-Sanford, FL MSA
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 | $1,930 |
| 1 Bedroom | $2,010 |
| 2 Bedrooms | $2,280 |
| 3 Bedrooms | $2,850 |
| 4 Bedrooms | $3,320 |
| 5 Bedrooms | $3,851 |
| 6 Bedrooms | $4,313 |
| 7 Bedrooms | $4,658 |
| 8 Bedrooms | $4,891 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,010 | $174,538 | 1.15% | B |
| 2BR | $2,280 | $251,546 | 0.91% | C |
| 3BR | $2,850 | $398,520 | 0.72% | D |
| 4BR | $3,320 | $581,184 | 0.57% | F |
| 5BR | $3,851 | $811,407 | 0.47% | F |
U.S. Census Bureau data (2024)
Oviedo, ZIP code 32765, stands out as a highly desirable suburban hub in Seminole County, characterized by its lush canopy roads and a family-centric atmosphere. The area is defined by its proximity to the University of Central Florida, which serves as a major regional economic engine and a consistent source of academic and professional demand. This neighborhood maintains a distinct "small-town" feel despite being part of the greater Orlando metro, with a historic downtown district and extensive park systems that attract long-term residents seeking stability over transient rental cycles.
From a financial perspective, the data presents a specific gap between government subsidies and current market pricing. The FY2024 HUD SAFMR for a 2-bedroom unit is set at $2130, while the projected FY2026 Full FMR climbs to $2390. However, live market data (Zillow ZORI) indicates a 2BR market rent of $2033. This creates a negative gap of $97 between the current SAFMR and the actual market rate, meaning standard voucher payments technically outpace the market by that margin. Median home values sit high at $489,542, and properties are moving relatively slowly with a median of 67 days on market, suggesting sellers are adjusting to a cooling pace compared to the frenetic peaks of recent years.
The local tenant pool is robust, supported by a median household income of $102,167, which significantly exceeds regional averages. Although the renter share is a moderate 28.9%, the high income levels suggest that even the renting population here is financially stable, often consisting of families waiting to buy or professionals affiliated with nearby institutions. The presence of top-rated public schools within the Seminole County district further anchors family demand, ensuring that vacancy rates remain low and that properties attract tenants invested in the community’s long-term success.
For Section 8 investors, the strongest angle in 32765 is stability rather than aggressive cash-flow. The market rent trails the FY2026 FMR projections, positioning the asset for potential payment increases if local rents catch up to HUD caps. While the high entry price relative to rent yields caution on immediate leverage, the combination of high-income demographics and excellent schools minimizes credit risk and tenant turnover, making this a defensive hold for portfolio preservation rather than a high-yield turnaround play.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.