Section 8 Fair Market Rent (FMR) for ZIP 32910 - 2027

FY 2027 Fair Market Rent Rates

To determine if you should buy in ZIP code 32910 for Section 8 purposes, follow this decision tree:

1) Does FMR $1430 (zip FY 2024) cover your debt service?

• Yes: If the Fair Market Rent (FMR) of $1430 can fully cover the debt service on your property, then you should proceed to the next step. Debt service includes mortgage payments, property taxes, insurance, and maintenance costs.
• No: If the FMR of $1430 does not cover your debt service, purchasing a property in ZIP 32910 would result in financial losses. Do not buy here unless you can reduce costs or find properties with lower debt service requirements.

2) Is the market rent above, at, or below FMR?

• Above: If the market rent exceeds the FMR of $1430, then Section 8 tenants might not be able to afford the full rent. This could limit your ability to lease out properties to Section 8 tenants.
• At: If the market rent equals the FMR of $1430, you can expect that Section 8 tenants will be able to cover the full rent, making it a viable option for investment.
• Below: If the market rent is below the FMR of $1430, Section 8 tenants can cover the rent, and you may have additional flexibility in setting rental prices. However, ensure that the rent remains competitive to attract tenants.

3) Are there enough renters and days on the market (DOM) to meet demand?

• It depends: Without specific percentages of renters and days on the market (DOM), it's challenging to provide a definitive answer. Generally, a high percentage of renters combined with low DOM indicates strong demand. Conversely, a low percentage of renters and high DOM suggest weak demand. You must assess whether the demand meets your investment criteria.

Note: The decision tree relies on accurate and up-to-date financial and market data. Ensure you have the most recent figures for market rent, percentage of renters, and days on the market before making an investment decision.

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.