Section 8 Fair Market Rent (FMR) for ZIP 33852 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 33852

• HOUSING AUTHORITY OF AVON PARK (Avon Park, FL)

Lake Placid, located in ZIP code 33852, is a small town in Florida that offers a unique blend of rural charm and proximity to larger urban centers. This area is particularly interesting for real estate investors due to its specific characteristics that can influence rental and property values.

• The Fair Market Rent (FMR) for Lake Placid in fiscal year 2024 is set at $1,140. This figure represents the maximum amount a landlord can charge for a unit under the Section 8 program, ensuring affordability for low-income tenants while providing a stable income source for landlords.
• The market rent, measured by Zillow's ZORI index, stands at $1,519. This indicates that properties in Lake Placid can command a premium over the FMR, offering potential for higher returns on investment for those willing to manage their own properties outside of Section 8.
• The median home value in Lake Placid is $238,421. This suggests that the area has a relatively affordable entry point for homeownership, which can be advantageous for investors looking to purchase properties at a lower cost.
• Renters make up 18.6% of the housing market in Lake Placid, indicating a significant portion of the population relies on rental properties. This demand supports the viability of rental investments in the area.
• The days on market (DOM) average is 89 days, suggesting that homes take approximately three months to sell. This provides insight into the local real estate market's speed and liquidity.
• The median household income in Lake Placid is $54,284. While this figure is below the national average, it still supports a steady demand for both rental and affordable housing options.

In summary, Lake Placid presents a balanced opportunity for real estate investors. The gap between the ZORI and FMR suggests potential for higher rental yields when managing properties independently. With a median home value of $238,421, the area remains attractive for purchasing properties at a reasonable price. The 18.6% renter share and median income indicate a consistent demand for rentals, making the town suitable for both Section 8 and independent rental management. However, the 89-day DOM average implies a moderate pace in the real estate market, which should be considered when planning to buy and sell properties quickly.

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.