Location: Orlando-Kissimmee-Sanford, FL | Metro: Orlando-Kissimmee-Sanford, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,430 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,110 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
U.S. Census Bureau data (2024)
ZIP 32833, located in Wedgefield, Florida, within the Orlando-Kissimmee-Sanford MSA, serves as an ideal cash-flow anchor for a Section 8 portfolio strategy. The primary reason for this classification lies in the significant spread between the Fair Market Rent (FMR) for a one-bedroom apartment and the local market rental rates.
In fiscal year 2024, the FMR for a one-bedroom apartment in ZIP 32833 is set at $1,700. In contrast, the current market rental rate stands at $2,174, indicating a difference of $474 per month. This discrepancy ensures that properties in this ZIP code can generate steady, above-average cash flow for landlords participating in the Section 8 program.
The median home value in ZIP 32833 is $507,030, which further supports its role as a cash-flow anchor. Landlords who invest in this area can expect their properties to maintain a solid value while benefiting from the higher market rents compared to the FMR. This stability is crucial for small-portfolio investors looking to balance risk and reward in their investment strategies.
ZIP 32833 is not particularly strong as an appreciation play due to its 0.3% price-cut share and N/A-day days on market (DOM). These metrics suggest limited volatility in property values and a relatively stable market, which does not provide the same level of growth potential as other areas might.
Nor is it a standout diversifier. With a 19.3% renter share and a median income of $98,733, the area has a mix of homeowners and renters, but the income level suggests a moderate tenant base that may not offer the broad demographic diversity sought in a diversification strategy.
Conclusion: For landlords and small-portfolio investors, ZIP 32833 should be viewed primarily as a cash-flow anchor within a Section 8 portfolio. Its stable home values and favorable spread between FMR and market rents make it a reliable choice for generating consistent income.
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.