Location: Wildwood-The Villages, FL | Metro: Wildwood-The Villages, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP 33514 highlights several potential challenges that landlords and small-portfolio investors should consider before entering into Section 8 rental agreements. Firstly, tenant turnover is a significant concern, especially when comparing the market rent of $1,029 to the Fair Market Rent (FMR) of $1,150 for FY 2024. The difference indicates a possible mismatch between what tenants are willing to pay and the subsidy levels, leading to frequent moves and higher administrative costs.
Vacancy exposure remains another critical issue. With the days on market (DOM) data being unavailable, it's difficult to gauge how long properties might remain vacant. However, the typical home value in ZIP 33514 is $293,070, which suggests that homeownership is accessible to some residents. This could potentially reduce the number of renters and increase competition for available units, making it harder to fill vacancies quickly.
The deferred-maintenance exposure is also noteworthy. Given the median income of $80,286, many residents might struggle to afford necessary repairs and maintenance beyond their monthly rent payments. Landlords must be prepared to cover these costs themselves, which can add up over time and impact profitability.
Despite these risks, the high renter share of 21.4% provides a counterbalance. A large proportion of renters often translates into higher demand for housing vouchers, which can stabilize occupancy rates and provide a steady stream of income. The concentration of renters supports the idea that there will likely be a consistent pool of Section 8 eligible tenants seeking housing in ZIP 33514.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.