Location: Orlando-Kissimmee-Sanford, FL | Metro: Orlando-Kissimmee-Sanford, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,680 |
| 1 Bedroom | $1,750 |
| 2 Bedrooms | $1,990 |
| 3 Bedrooms | $2,480 |
| 4 Bedrooms | $2,900 |
| 5 Bedrooms | $3,364 |
| 6 Bedrooms | $3,768 |
| 7 Bedrooms | $4,069 |
| 8 Bedrooms | $4,272 |
The ZIP code 32859 in Orlando, FL, is classified as a PO Box, which means it primarily serves postal needs rather than residential ones. Due to its nature, specific demographic data such as population, median income, and median home value are not available, as these metrics are typically associated with populated areas.
Moving to the economic side, the Fair Market Rent (FMR) for ZIP 32859 in fiscal year 2024 is set at $1870. However, the exact market rent for the area is not provided, indicating a potential gap in publicly available data. This discrepancy can be attributed to the limited residential use of the ZIP code, making it challenging to gather comprehensive rental market information.
Given the characteristics of ZIP 32859, it may not be an ideal location for a hands-off Section 8 voucher operator. The lack of detailed demographic and economic data suggests a need for active management and a thorough understanding of the local rental market dynamics. For hands-on value-add buyers, the area could present opportunities if there is a strong presence of nearby residential neighborhoods that benefit from the services provided through this ZIP code.
To make informed decisions, investors should conduct additional research to understand the surrounding areas and their impact on the rental market within ZIP 32859. This includes analyzing the demand for postal services and the potential for converting PO Box properties into residential units, where feasible.
Data Sources: FMR data from HUD (2027).
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.