Location: Orlando-Kissimmee-Sanford, FL | Metro: Orlando-Kissimmee-Sanford, 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 | $1,980 |
| 1 Bedroom | $2,060 |
| 2 Bedrooms | $2,340 |
| 3 Bedrooms | $2,920 |
| 4 Bedrooms | $3,410 |
| 5 Bedrooms | $3,956 |
| 6 Bedrooms | $4,431 |
| 7 Bedrooms | $4,785 |
| 8 Bedrooms | $5,024 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,340 | $412,429 | 0.57% | F |
| 3BR | $2,920 | $388,822 | 0.75% | D |
| 4BR | $3,410 | $490,879 | 0.69% | D |
| 5BR | $3,956 | $629,080 | 0.63% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 34715, Minneola, FL, are straightforward when analyzed against the local rental market. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) for FY 2024 is set at $2270. This figure represents the maximum amount that a landlord can receive from the Housing Choice Voucher program for this specific ZIP code. In comparison, the local market rent, as indicated by ZORI (Zillow Observed Rent Index), stands at $2,553.
To understand how much a landlord receives under the voucher program, it's important to factor in the tenant's portion and utility allowances. Typically, the tenant is responsible for paying approximately 30% of their adjusted income towards rent. If we assume an average adjusted income of $1513.33 (based on the national median household income for low-income families), the tenant's contribution would be around $454. This amount is then added to the utility allowance, which varies but generally ranges between $150 to $300 per month.
The total reimbursement a landlord receives is the sum of the tenant's portion and the utility allowance, capped at the SAFMR rate. For example, if the utility allowance is $200, the total reimbursement would be $654. However, since the SAFMR for ZIP 34715 is $2270, the landlord will receive the lesser of the calculated reimbursement or the SAFMR rate. Therefore, the landlord would receive $2270 from the voucher program.
This means there is a gap between the SAFMR and the local market rent. In ZIP 34715, the difference is $283 per month ($2,553 - $2270). Landlords should be aware that they will not receive the full local market rent when renting to tenants with vouchers. Instead, they must adjust their expectations to the SAFMR rate, which ensures fair compensation while keeping housing affordable for low-income families.
In summary, the typical reimbursement for a two-bedroom apartment in ZIP 34715 under the Section 8 voucher program is $2270, creating a $283 monthly gap compared to the local market rent of $2,553. This gap is something landlords need to consider when deciding whether to participate in the program.
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.