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 | $1,960 |
| 1 Bedroom | $2,040 |
| 2 Bedrooms | $2,310 |
| 3 Bedrooms | $2,880 |
| 4 Bedrooms | $3,370 |
| 5 Bedrooms | $3,909 |
| 6 Bedrooms | $4,378 |
| 7 Bedrooms | $4,728 |
| 8 Bedrooms | $4,964 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,040 | $220,525 | 0.93% | C |
| 2BR | $2,310 | $367,152 | 0.63% | D |
| 3BR | $2,880 | $505,549 | 0.57% | F |
| 4BR | $3,370 | $725,552 | 0.46% | F |
| 5BR | $3,909 | $1,242,765 | 0.31% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP 32803 in Orlando, Florida, reveals several key points for landlords and small-portfolio investors. First, let's examine if the rent math works. The Fair Market Rent (FMR) for ZIP 32803 in fiscal year 2024 is set at $2,180. Comparatively, the market rent as measured by the Zillow Observed Rent Index (ZORI) stands at $2,040. This indicates that properties in this area can be rented at slightly below the FMR, which is still a competitive rate.
Moving on to the affordability of acquisitions, the median home value in ZIP 32803 is $468,255. With an average Days on Market (DOM) of 42 days and only 0.3% of homes requiring a price cut, it suggests that the housing market is relatively stable and that acquiring properties should not be overly challenging. Investors can expect a good balance between property costs and the likelihood of quick sales without significant discounts.
Regarding tenant demand, the population of ZIP 32803 is 22,152, with 46.9% of residents being renters. This high percentage of renters indicates a robust demand for rental properties. Landlords can confidently expect a steady pool of potential tenants looking for housing options within this ZIP code.
In conclusion, ZIP 32803 presents a viable investment opportunity for real estate investors interested in the Orlando-Kissimmee-Sanford, FL MSA metro area. The rent math is favorable, with market rents slightly below the FMR, making it attractive for both landlords and tenants. Acquisition costs are reasonable, and the market stability reflected in low price-cut shares and moderate DOM figures supports a healthy investment environment. Furthermore, the strong tenant demand ensures that properties will likely remain occupied, providing consistent cash flow. These factors collectively suggest that ZIP 32803 is a sound choice for those seeking to invest in residential real estate.
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.