Section 8 Fair Market Rent (FMR) for ZIP 33844 - 2027

Investment Score for ZIP 33844

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,130
1 Bedroom	$1,210
2 Bedrooms	$1,450
3 Bedrooms	$1,990
4 Bedrooms	$2,420
5 Bedrooms	$2,807
6 Bedrooms	$3,144
7 Bedrooms	$3,396
8 Bedrooms	$3,566

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,210	$86,296	1.4%	A
2BR	$1,450	$162,752	0.89%	C
3BR	$1,990	$276,973	0.72%	D
4BR	$2,420	$317,693	0.76%	D
5BR	$2,807	$365,622	0.77%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 33844 (Haines City, FL) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 33844 in Haines City, Florida, is set at $1400 for a two-bedroom unit in 2026. This amount represents 26.4% of the median household income in the area, which is $63,650. However, the actual rental market for two-bedroom units is significantly higher, with the Zillow median price standing at $165,805. This translates to a price-to-FMR ratio of 9.9x, indicating that the actual rent for a two-bedroom unit is approximately $1414 per month ($165,805/9.9). Therefore, the FMR is lower than the actual rent by about $14 per month, creating a slight constraint for voucher holders who might find it challenging to secure housing within their budget. #### Affordability & Renter Profile In ZIP code 33844, 29.6% of the population are renters, with a total population of 51,255. The occupancy rate stands at 79.1%, suggesting a moderately tight rental market. Given that the FMR for a two-bedroom unit is only 26.4% of the median household income, the affordability for renters is relatively high. However, the disparity between the Zillow median price and the FMR indicates that many renters may be paying above the FMR, especially those without vouchers. This suggests that the market is somewhat competitive, but not overly so, as there is still a significant portion of the population that can afford to rent at or below the FMR. #### Investor Angle From an investor perspective, the ZIP code 33844 offers a mixed outlook. The FMR for a two-bedroom unit is $1400, while the actual rent is closer to $1414 based on the Zillow median price. This means that if an investor aims to rent out a two-bedroom unit at the FMR, they would be slightly under the market rate. However, the demand for affordable housing, especially among Section 8 voucher holders, could make this a viable strategy. To determine if this ZIP code is cash-flow positive at FMR, we need to consider the typical operating expenses and mortgage payments. Assuming a property value of $165,805 and a standard mortgage rate of 5%, the monthly mortgage payment would be approximately $865. Adding typical operating expenses such as maintenance, utilities, insurance, and property taxes, which can range from 30% to 50% of the rental income, we can estimate a total expense of around $1000 to $1200 per month. At the FMR of $1400, the net cash flow would be positive, ranging from $200 to $400 per month, depending on the exact expenses. Given the relatively low FMR compared to the median household income and the moderate occupancy rate, the investment grade for this ZIP code is considered good for Section 8-focused investors. The demand for affordable housing is strong enough to ensure steady tenancy, and the slight underpricing relative to the market could attract tenants who are willing to pay the higher market rates. #### Specific Actionable Insights 1. **Focus on Two-Bedroom Units**: Investors should focus on acquiring two-bedroom units, as these are most aligned with the FMR and the needs of the majority of voucher holders. With the FMR at $1400 and the median household income at $63,650, the affordability is favorable for both voucher holders and non-voucher renters. 2. **Consider Pricing Above FMR**: While the FMR is $1400, the actual market rent is slightly higher at $1414. Investors could consider setting their rents slightly above the FMR to capture the full market potential, ensuring a better cash flow. However, they must be prepared to compete with other landlords who might also be pricing at the higher end. 3. **Diversify Property Types**: Given that the occupancy rate is 79.1%, investors should diversify their portfolio to include a mix of one-bedroom, two-bedroom, and three-bedroom units. This will cater to different segments of the rental market and potentially increase the overall occupancy rate and cash flow. #### Bottom Line For Section 8-focused investors, ZIP code 33844 (Haines City, FL) presents a favorable opportunity. The demand for affordable housing is strong, and the FMR is well within the affordability range of the median household income. The slight underpricing of the FMR relative to the market rent can still yield positive cash flows, making this ZIP code a good investment. **Recommendation**: **Buy**. Investors should consider purchasing properties in this ZIP code, particularly focusing on two-bedroom units, and setting rents slightly above the FMR to maximize cash flow while remaining competitive in the market.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.