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 analysis for ZIP code 32867 in Florida reveals some limitations due to incomplete data, particularly regarding the median home value and market rent. However, we can still provide a preliminary assessment based on the available information.
The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 32867 for fiscal year 2024 is set at $1870 per month. This figure represents the annualized rental income that a landlord could expect from a property participating in the Section 8 program. To calculate the implied gross yield, we need the median home value, which is currently not available. Therefore, we cannot provide a precise cap rate for the Section 8 scenario.
Regarding market rent, the data is also not available, making it impossible to derive an exact cap rate for non-Section 8 properties. The lack of this information hinders a direct comparison between the two yields. However, investors should consider the stability of rental income under Section 8 versus the variability of market rents.
In terms of realism, the current data suggests that the Section 8 program offers a predictable income stream, which is beneficial for landlords looking for consistent cash flow. The unknown median home value and market rent indicate that further research into local real estate trends would be necessary to fully assess the potential returns of market-rate rentals. Given the N/A% renter density and N/A-day Days on Market (DOM), it's clear that additional context is required to determine the most practical investment approach.
To summarize, while we can't provide specific dollar figures for a cap rate comparison without the median home value, the Section 8 program offers a stable $1870 monthly rent for a two-bedroom unit. Investors must evaluate the broader real estate market conditions in ZIP 32867 to decide whether Section 8 or market-rate rentals are more advantageous.
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.