Section 8 Fair Market Rent (FMR) for ZIP 33871 - 2027

FY 2027 Fair Market Rent Rates

ZIP Code 33871 is located in Sebring, Florida, and is primarily a PO Box ZIP Code. Therefore, specific demographic data for ZIP 33871 is not available. However, we can draw insights from the neighboring ZIP Code 33870, which is a standard ZIP Code encompassing residential areas.

The total population of ZIP Code 33870 is 25,219, with a significant portion of residents living in owner-occupied homes (54.3%). Additionally, there are 23.9% of residents living in renter-occupied homes. The median household income in the area is $48,270, indicating a lower-middle-income neighborhood. The median home value stands at $166,009, suggesting affordable housing options.

Moving to the rent economics, the Fair Market Rent (FMR) for ZIP 33871 in fiscal year 2024 is $1,120. Although specific market rent data for ZIP 33871 is unavailable, it can be inferred that the FMR is likely to be a reasonable estimate of the rental market in the area. The housing affordability index for ZIP Code 33870 is 102, which means that residents with a median household income can typically afford to purchase a home priced at the median value.

Given the demographic and economic context, ZIP 33871 is well-suited for hands-off voucher operators due to its lower median income and affordable housing. However, it may also present opportunities for hands-on value-add buyers who can improve property values and tap into the growing population and household numbers in the region. The area's diversity index of 71 suggests a moderate mix of residents from various backgrounds, providing a stable environment for investment.

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.