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 | $1,150 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,370 | $175,040 | 0.78% | D |
| 3BR | $1,730 | $256,182 | 0.68% | D |
| 4BR | $2,090 | $317,329 | 0.66% | D |
| 5BR | $2,424 | $361,192 | 0.67% | D |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 32805, located in Orlando, FL, Orange County, reveals a balanced opportunity for those seeking to invest in the area. The HUD Fair Market Rent (FMR) for ZIP 32805 in fiscal year 2024 is set at $1,460, which closely aligns with the market's Zillow Observed Rental Index (ZORI) of $1,451. This indicates that voucher tenants will generally cashflow at the FMR rate without requiring premium units, making it an attractive option for landlords and small-portfolio investors.
To further understand the investment potential, consider the median home value in the area, which stands at $242,047. Using this figure, we can calculate a rent-to-price ratio. For a property priced at $242,047, the monthly mortgage payment (assuming a 30-year fixed-rate loan at 4.5%) would be approximately $1,200. When combined with typical maintenance costs and other expenses, the total monthly outlay could be around $1,500. Given the HUD FMR of $1,460, the rent-to-price ratio suggests that properties are slightly overpriced relative to rental income, but the proximity of FMR to market rents indicates that voucher tenants can still provide positive cash flow, albeit marginal.
The dynamics of the rental versus buying market are also important. With a median Days on Market (DOM) of N/A and a price-cut share of 0.3%, the real estate market in ZIP 32805 is stable, with minimal need for price adjustments. This stability supports the attractiveness of the area for long-term investments, particularly for those looking for consistent cash flow rather than rapid appreciation.
The strongest investor angle in ZIP 32805 is stability. The combination of HUD FMR rates nearly matching market rents and the low price-cut share suggests a market that is resilient to fluctuations, providing a solid foundation for steady returns on investment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.