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 | $990 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $990 | $148,894 | 0.66% | D |
| 2BR | $1,200 | $208,908 | 0.57% | F |
| 3BR | $1,660 | $287,500 | 0.58% | F |
| 4BR | $2,000 | $436,864 | 0.46% | F |
U.S. Census Bureau data (2024)
ZIP code 34429, located in Crystal River, FL, falls within the Homosassa Springs, FL MSA. The Federal Market Rent (FMR) for ZIP 34429 in fiscal year 2024 is set at $1200. This figure is notably higher than the actual market rent of $1,046, indicating that landlords in this area can benefit from the FMR subsidy, which exceeds the local rental rates.
The median home value in ZIP 34429 is $253,530, which is lower than the average home value found in the broader Homosassa Springs MSA. Additionally, the renter share in ZIP 34429 stands at 19.6%, suggesting a moderate presence of renters compared to other ZIP codes within the same MSA.
Based on these figures, ZIP 34429 appears to be a value pocket within the Homosassa Springs, FL MSA. The combination of below-average home values and a significant renter share points towards an area where Section 8 vouchers are likely to be a common form of payment. This makes it particularly attractive for landlords who are willing to participate in the Section 8 program, as they can receive rental income above the local market rate due to the higher FMR.
The discrepancy between the FMR and market rent also suggests that there might be a competitive advantage for landlords in ZIP 34429. Since the FMR is higher than the market rent, landlords could potentially negotiate higher rents with voucher holders without exceeding the allowable rent ceiling, thus increasing their revenue beyond what typical market conditions would offer.
In summary, ZIP 34429 presents itself as a strategic location for landlords interested in the Section 8 program, offering a balance of manageable property costs and a favorable rental environment driven by the subsidy differential.
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.