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 | $930 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,130 | $204,463 | 0.55% | F |
| 3BR | $1,560 | $290,198 | 0.54% | F |
| 4BR | $1,890 | $421,723 | 0.45% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 34450, encompassing Inverness, FL, and part of the Homosassa Springs, FL MSA metro, reveals several key insights for potential landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1,000, while the market rent based on Census ACS data is $1,016. This indicates that landlords can expect to charge slightly above the FMR, ensuring a modest positive cash flow if they adhere to the HUD guidelines.
Regarding the affordability of acquisitions, the median home value in ZIP 34450 stands at $255,380. With no available data on days on market (DOM), it suggests that homes are selling quickly, possibly indicating a competitive market. However, the low 0.4% share of homes requiring price cuts points towards a stable housing market where properties maintain their value well.
Tenant demand is another critical factor. The total population in the ZIP code is 11,532, with 15.8% being renters. This means there are approximately 1,829 renters in the area, providing a solid pool of potential tenants. Given the relatively small population, this figure represents a significant portion of the market, suggesting strong tenant demand.
Verdict: The rent math in ZIP 34450 works favorably for landlords, with market rents slightly exceeding the FMR. Acquisition costs are reasonable, and the stability of home values without frequent price cuts indicates a healthy market. Tenant demand is robust, making this area a viable investment opportunity for those willing to navigate a smaller but active rental market. Landlords can confidently set rents at or just above the FMR to ensure profitability and meet tenant needs.
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.