Section 8 Fair Market Rent (FMR) for ZIP 33119 - 2027

FY 2027 Fair Market Rent Rates

The potential risks for a Section 8 landlord investing in ZIP code 33119 in Unknown, FL, include significant tenant turnover if the property is rented at market rates versus the Federal Market Rent (FMR) of $2320 for FY 2024. This discrepancy can lead to financial instability due to fluctuating rental incomes.

Vacancy exposure is another concern, particularly when considering the days on market (DOM) for properties in the area. A higher DOM indicates that properties may remain vacant longer, increasing the risk of lost rental income during these periods.

Deferred maintenance poses a significant challenge, especially without knowing the typical home values and median income levels in ZIP 33119. These factors are crucial in determining the ability of residents to afford necessary repairs, which could impact the overall condition of the property and the landlord's investment.

However, the high renter share in the area suggests strong demand for rental properties, including those utilizing Section 8 vouchers. This high concentration of renters typically translates into a robust pool of potential tenants, reducing the likelihood of extended vacancies.

Verdict: Moderate risk for a first-time Section 8 landlord.

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.