Location: Homosassa Springs, FL | Metro: Homosassa Springs, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
The analysis of ZIP code 34423 within the Homosassa Springs, FL MSA reveals several critical points that landlords and small-portfolio investors should consider before making any investment decisions.
Firstly, regarding the rent math, the Family Monthly Rent (FMR) for the area is set at $1120 for fiscal year 2024. However, the market rent data is currently unavailable, which makes it difficult to directly compare the two figures. Without this comparison, it's challenging to determine if the rent charged aligns with what tenants are willing to pay in the local market.
Secondly, the affordability of property acquisition in ZIP 34423 cannot be assessed due to the lack of specific data on median home values, days on market (DOM), and the percentage of homes that have been listed with price cuts. These metrics are crucial for understanding how competitive the real estate market is and whether properties are being sold at favorable prices.
Lastly, tenant demand is another key factor that remains unclear without specific population and renter share data. The percentage of renters in the area would indicate the potential pool of tenants, while the population figure would provide context on the overall size of the market.
In summary, ZIP 34423 presents an intriguing opportunity for real estate investment with the established FMR of $1120. However, the absence of detailed market rent, median home value, days on market, price-cut share, population, and renter share percentages leaves significant gaps in the analysis. To make a fully informed decision, investors must seek out additional data to fill these voids and assess the viability of the market more accurately.
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.