Location: Orlando-Kissimmee-Sanford, FL | Metro: Orlando-Kissimmee-Sanford, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,480 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $1,750 |
| 3 Bedrooms | $2,180 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
U.S. Census Bureau data (2024)
The ZIP code 32773 in Sanford, FL, stands out within Seminole County due to its unique demographic and economic characteristics. With a population of 34,032 residents, it has a significant rental market, with 42.2% of the population renting their homes. The median income in this area is $70,442, which is relatively stable and supports a moderate cost of living. Notably, the median home value is $310,793, indicating a mix of affordable and higher-end housing options.
For landlords and small-portfolio investors, understanding the voucher economics is crucial. In ZIP 32773, the Fair Market Rent (FMR) for a Section 8 voucher in fiscal year 2024 is set at $1,700. This figure is slightly below the market rent, as indicated by the ZORI (Zillow Rent Index), which stands at $1,770. This means that landlords can expect a slight premium when renting to tenants with Section 8 vouchers compared to the subsidized rate.
Given the data signature, ZIP 32773 appears to be in a stable phase. The median income and home values suggest a balanced community where both renters and homeowners coexist. While there is a significant rental market, the presence of a strong median income indicates that residents are financially capable of maintaining a steady demand for housing. The modest difference between the FMR and market rent also implies that the local rental market is well-adjusted to accommodate both subsidized and non-subsidized tenants without major disruptions.
Data Sources: FMR data from HUD (2027). 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.