Section 8 Fair Market Rent (FMR) for ZIP 33679 - 2027

FY 2027 Fair Market Rent Rates

To determine if you should invest in ZIP code 33679 for Section 8 properties, follow these steps:

Step 1: Can the Fair Market Rent (FMR) of $1900 cover your debt service?

• Yes: If the FMR of $1900 is sufficient to cover the debt service on a property in 33679, proceed to the next step.
• No: Do not purchase in this area unless you can find properties where the FMR would adequately cover the debt service.

Step 2: How does the market rent compare to the FMR?

• Above FMR: If the market rent is higher than the FMR of $1900, there's potential for profit beyond Section 8 subsidies, but you'll need to assess whether the demand for Section 8 tenants is high enough to justify the investment.
• At or Below FMR: If the market rent is at or below the FMR, the property will be more competitive for Section 8 tenants, but the potential for additional rental income is limited.

Step 3: Is the demand for rental properties sufficient?

• It Depends: Without specific percentages of renters and days on the market (DOM), it's challenging to provide a definitive answer. However, if the percentage of renters is substantial and the DOM is relatively low, indicating quick turnover, then the demand is likely sufficient. Conversely, if the percentage of renters is low and the DOM is high, it suggests a weaker demand.

Note: The analysis requires actual data points for market rent and the percentage of renters plus days on the market to make a fully informed decision. The current FMR of $1900 is the key figure to consider against your financial obligations and local rental market conditions.

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.