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 | $1,350 |
| 1 Bedroom | $1,410 |
| 2 Bedrooms | $1,600 |
| 3 Bedrooms | $2,000 |
| 4 Bedrooms | $2,330 |
| 5 Bedrooms | $2,703 |
| 6 Bedrooms | $3,027 |
| 7 Bedrooms | $3,269 |
| 8 Bedrooms | $3,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,410 | $78,960 | 1.79% | A+ |
| 2BR | $1,600 | $186,020 | 0.86% | C |
| 3BR | $2,000 | $319,576 | 0.63% | D |
| 4BR | $2,330 | $375,911 | 0.62% | D |
| 5BR | $2,703 | $717,486 | 0.38% | F |
U.S. Census Bureau data (2024)
ZIP code 32809, located in Orlando, Florida, stands out within Orange County due to its unique demographic and economic characteristics. With a population of 29,237 residents, it has a rental rate of 46.9%, indicating a significant portion of the community lives in rented properties. The median income for the area is $57,879, while the median home value is notably higher at $311,185. This suggests a mix of middle-income earners and slightly more expensive housing options compared to other parts of the county.
The economics of Section 8 vouchers in ZIP 32809 are favorable for landlords. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1,540, which is slightly above the current market rent index (ZORI) of $1,527. This means that landlords can expect a modest increase in rental income when participating in the Section 8 program. Additionally, the higher FMR relative to ZORI indicates that there is some room for landlords to negotiate rents within the bounds of the voucher program, potentially leading to better occupancy rates and more stable cash flows.
Evaluating the overall data signature of ZIP 32809, it appears to be relatively stable. The slight discrepancy between the FMR and ZORI, along with the established median income and home values, points towards a neighborhood where the rental market is well-aligned with federal guidelines. For small-portfolio investors and landlords, this stability offers a predictable environment for investment and property management. However, the ongoing dynamics of the housing market and changes in federal funding could introduce transitional elements in the future, so continued monitoring of local trends and policy updates is advised.
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.