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 | $1,060 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,150 |
| 5 Bedrooms | $2,494 |
| 6 Bedrooms | $2,793 |
| 7 Bedrooms | $3,016 |
| 8 Bedrooms | $3,167 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,070 | $121,853 | 0.88% | C |
| 2BR | $1,290 | $175,323 | 0.74% | D |
| 3BR | $1,790 | $394,392 | 0.45% | F |
| 4BR | $2,150 | $490,986 | 0.44% | F |
U.S. Census Bureau data (2024)
ZIP 34465, located in Beverly Hills, FL, within the Homosassa Springs, FL MSA, aligns well as an appreciation play within a Section 8 portfolio strategy. The median fair market rent (FMR) for ZIP 34465 in fiscal year 2024 is set at $1170, which is notably lower than the current market rent of $1,603. This discrepancy presents an opportunity for appreciation as rental values are likely to rise over time.
The median home value in ZIP 34465 is $237,200, indicating a relatively affordable housing market. However, the low 0.3% price-cut share suggests that landlords in this area do not often have to reduce rents to attract tenants, a positive sign for maintaining or increasing rental income. Additionally, the 52-day days on market (DOM) indicates that properties are generally occupied quickly, reducing vacancy rates and increasing cash flow stability.
While the 18.4% renter share is not particularly high, it does provide some diversification benefits. Landlords can benefit from a mix of owner-occupied and rental properties, which can help stabilize their overall investment performance. The median household income of $54,869 supports the idea that tenants in this area can afford higher rents as the local economy grows, further enhancing the potential for appreciation.
In summary, ZIP 34465 is best categorized as an appreciation play due to its low FMR compared to market rent, quick property occupancy, and moderate renter share. These factors combine to create a favorable environment for long-term growth in rental income and property values.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.