Location: Homosassa Springs, FL | Metro: Homosassa Springs, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
To classify ZIP 34464 in Unknown, FL, we need to look at the available data points: the Fair Market Rent (FMR) and the lack of other specific metrics such as market rent, home values, percentage of renters, days on market (DOM), and median income. The FMR for ZIP 34464 for fiscal year 2024 is set at $1,120. This figure represents the maximum amount that a tenant can be expected to pay under the Section 8 program, which is based on the 40th percentile of market rents.
The absence of market rent and home value data makes it difficult to assess whether ZIP 34464 is a high-yield market. Typically, if the FMR is significantly higher than the average market rent, it could indicate a high-yield environment where landlords might benefit from the subsidy. However, since we do not have the market rent data, we cannot make this comparison directly. The lack of home value data also means we cannot determine the potential for capital appreciation or compare rental yields against property values.
Regarding stability, the missing data on the percentage of renters, DOM, and median income complicates the analysis. Stability in rental markets often correlates with a lower percentage of days on market and higher median incomes, which suggest a more reliable tenant pool. Without these figures, it's challenging to gauge the stability of the rental market in ZIP 34464. A high percentage of renters usually indicates a stable cash flow, but again, this information is not available.
Based on the FMR alone, landlords can expect a consistent rental income of $1,120 per month for a unit in ZIP 34464, assuming they meet the criteria for Section 8 participation. However, the classification of this ZIP code as a high-yield/low-stability market or a steady-cashflow zone remains indeterminate due to the lack of critical market indicators.
To provide a more accurate assessment, additional data points such as local market rent trends, the percentage of the population renting, typical DOM periods, and median household income would be necessary. These factors would help to understand the broader economic context and the potential risks and rewards associated with investing in this area.
Data Sources: FMR data from HUD (2027).
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.