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 | $920 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $174,971 | 0.64% | D |
| 3BR | $1,550 | $262,587 | 0.59% | F |
| 4BR | $1,870 | $354,029 | 0.53% | F |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) set at $1100 for zip code 34453 in Inverness, FL, for fiscal year 2024, landlords should note that the actual market rent, or ZORI, stands slightly higher at $1,564. This discrepancy highlights the premium tenants are willing to pay over government-set rates. The median home value in the area is $240,248, indicating a moderate housing market where investment properties can be acquired at reasonable prices. With 19.3% of residents being renters, there is a significant but not overwhelming demand for rental properties. The median income of $57,568 suggests that while some residents may struggle to afford market rents, others can comfortably cover the cost. However, the average Days on Market (DOM) for properties is 45 days, which is relatively high and could indicate challenges in finding tenants quickly. Furthermore, only 0.3% of listings experience price cuts, signaling that once a property is priced correctly, it will likely attract tenants without needing adjustments. Given these figures, landlords and small-portfolio investors looking to enter the Section 8 market in Inverness should expect a challenging yet potentially rewarding environment.
The verdict on Section 8 in Inverness, FL, is that it remains a viable option for landlords, albeit with the understanding that they must compete against market rents that are significantly higher than the FMR. This requires careful consideration of property management costs and potential income gaps when setting up Section 8 units.
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.