Location: Homosassa Springs, FL | Metro: Homosassa Springs, FL MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $227,397 | 0.49% | F |
| 3BR | $1,540 | $322,143 | 0.48% | F |
| 4BR | $1,820 | $471,929 | 0.39% | F |
U.S. Census Bureau data (2024)
The ZIP code 34428, located in Crystal River, Florida, presents a challenging environment for renters given the area's median income and market rental rates. Households earning the median income of $50,779 would find it difficult to afford the market rate rent of $2,223 per month, known as the ZORI (Zillow Observed Rent Index).
To put this into perspective, the Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $920. This means that the government-subsidized housing voucher program aims to cover rents up to this amount, which is significantly lower than the market rate. The disparity between the market rate and the voucher payment standard highlights a substantial affordability gap for renters.
In Crystal River, where 22.8% of the 10,163 residents are renters, the affordability gap suggests intense competition among landlords. Tenants are likely to prefer properties that accept vouchers due to the lower cost compared to market rates. This preference could lead to a higher demand for affordable housing options over those that require market-rate rents.
For landlords considering their strategy, the data clearly points towards the importance of evaluating whether to accept voucher tenants. Given the high market-rate rents relative to the median income, landlords who are willing to accept vouchers may attract a larger pool of potential tenants. However, landlords should also consider the administrative and financial aspects of participating in the voucher program.
The takeaway is that landlords in Crystal River must weigh the benefits of accepting voucher tenants against the challenges of lower rent payments. In a market where the median income struggles to meet the ZORI, landlords who adapt to accommodate both voucher and cash-paying tenants will likely position themselves better in the competitive rental landscape.
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.