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 ZIP code 33585 stands out due to its unique demographic and economic characteristics. With a population of 1,763 residents, it has a relatively low rental rate of 18.1%, indicating that most residents prefer homeownership. The median income in this ZIP code is $83,125, which is higher than the national average, suggesting a financially stable community. The median home value is $294,539, reflecting a moderate housing market.
Moving to the specifics of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 33585 in fiscal year 2024 is set at $1060. This figure is crucial for landlords and small-portfolio investors as it determines the maximum amount that can be charged to tenants participating in the Section 8 program. However, the lack of available market rent data makes direct comparisons challenging. It's important to note that the FMR is typically lower than the market rent in many areas, but without specific market rent data, we cannot provide a precise comparison.
Given the data signature of ZIP 33585, the community appears to be relatively stable. The high median income supports a strong local economy, and the moderate median home value suggests a balanced housing market. While the rental rate is low, the presence of Section 8 vouchers provides an opportunity for landlords to attract tenants who might otherwise struggle to afford the area's housing costs. For small-portfolio investors, understanding the dynamics of the local rental market and the role of Section 8 vouchers is key to making informed investment decisions.
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.