Location: Wildwood-The Villages, FL | Metro: Ocala, 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 | $1,110 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,300 | $250,950 | 0.52% | F |
| 3BR | $1,710 | $296,700 | 0.58% | F |
| 4BR | $1,800 | $353,167 | 0.51% | F |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 34491, located in Summerfield, FL, within Marion County and the Wildwood-The Villages, FL MSA, reveals a clear disparity between the Fair Market Rent (FMR) set by HUD and the actual market rents. For fiscal year 2024, HUD has established the FMR at $1,260 for this area. In contrast, the market rent, as indicated by the Zillow Observed Rent Index (ZORI), stands at $1,875. This significant gap means that landlords who rely solely on Section 8 vouchers will experience negative cash flow on standard units.
To derive the rent-to-price ratio, we consider the median home value of $289,859. Given the market rent of $1,875, the annual rent would be approximately $22,500, leading to a rent-to-price ratio of roughly 7.8%. This ratio suggests that rental income alone does not fully cover the cost of owning a home in this area, further emphasizing the challenge faced by landlords dependent on Section 8 vouchers.
The HUD FMR of $1,260 is insufficient to cover the market rent of $1,875, indicating that voucher tenants will only cash flow on premium units that are priced closer to the FMR. Standard units in this market will result in a shortfall of $615 per month, which can be substantial over time. However, it's worth noting that the median Days on Market (DOM) is 75 days, and only 0.3% of listings experienced price cuts. These factors suggest a relatively stable housing market with good demand, which could benefit investors who focus on long-term stability rather than immediate cash flow.
The strongest angle for investors in ZIP 34491 is likely stability. Despite the challenges with cash flow due to the low FMR compared to market rents, the robust demand and limited need for price adjustments indicate a reliable investment environment where properties maintain their value and occupancy rates remain high.
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.