Section 8 Fair Market Rent (FMR) for ZIP 34449 - 2027
Location: Homosassa Springs, FL | Metro: Levy County, FL HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| 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 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$43,656
Housing Authorities Serving ZIP 34449
A skeptical investor considering Inglis, FL (ZIP 34449), might raise several concerns regarding the feasibility of investing in Section 8 properties. Here are the most pressing objections and how the data addresses them.
- Will Fair Market Rent (FMR) of $910 cover the mortgage on a $250,837 home? The FMR for ZIP 34449 is set at $910 for the fiscal year 2024. To determine if this will sufficiently cover the mortgage, we must consider the typical interest rates and loan terms. Assuming a 30-year fixed-rate mortgage at an average rate of 4.5%, the monthly payment on a $250,837 home would be approximately $1,250. This means that the FMR of $910 falls short by about $340 per month, which highlights a significant gap that landlords must consider. This shortfall could be covered by other income sources or by renting additional units, but it's a critical factor that reduces profitability.
- Is there enough renter demand at 27.3%? The percentage of renter-occupied housing units in ZIP 34449 is 27.3%. While this indicates a moderate level of demand, it's essential to compare this figure to the broader market. Nationally, the average renter-occupied rate is around 36%. Therefore, Inglis has a lower-than-average rental market, suggesting a smaller pool of potential tenants. However, the local rental market dynamics, such as the presence of seasonal residents or retirees, could still support demand for Section 8 rentals. It's crucial to assess these factors alongside the 27.3% statistic.
- Will vouchers keep pace with market rents of $823? The voucher amount of $910 is higher than the current market rent of $823. This suggests that landlords can expect to receive a slightly above-market rate when renting to Section 8 tenants. However, the sustainability of this trend depends on the rate of inflation and changes in voucher policies. The data does not provide future projections, so while there is a positive discrepancy now, investors should remain vigilant about potential adjustments in both market rents and voucher amounts.
The data paints a picture of a challenging yet potentially rewarding market for Section 8 investments in ZIP 34449. Landlords need to carefully weigh the benefits of guaranteed rental income against the financial realities of covering mortgages and the limited rental demand. Additionally, they should monitor market trends closely to ensure that the current favorable voucher-to-rent ratio persists.
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.