Section 8 Fair Market Rent (FMR) for ZIP 34747 - 2027

Location: Orlando-Kissimmee-Sanford, FL | Metro: Orlando-Kissimmee-Sanford, FL MSA

Investment Score for ZIP 34747

Monthly Rent (2BR)

$2,110

Median Price (2BR)

$308,264

1% Rule

0.68%

Annual Yield

8.21%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,790
1 Bedroom	$1,860
2 Bedrooms	$2,110
3 Bedrooms	$2,630
4 Bedrooms	$3,080
5 Bedrooms	$3,573
6 Bedrooms	$4,002
7 Bedrooms	$4,322
8 Bedrooms	$4,538

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,860	$198,660	0.94%	C
2BR	$2,110	$308,264	0.68%	D
3BR	$2,630	$336,315	0.78%	D
4BR	$3,080	$428,133	0.72%	D
5BR	$3,573	$628,532	0.57%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

30,859

Median Household Income

$77,755

Housing Units

22,432

Renter Percentage

49.7%

Occupancy Rate

55.4%

Renter Occupied

6,170

Kissimmee, FL, located in ZIP code 34747, is a vibrant community situated near Orlando and the attractions of Central Florida. Its proximity to major tourist destinations and its growing residential appeal make it an interesting market for real estate investors, particularly those considering Section 8 housing opportunities.

The Fair Market Rent (FMR) for Kissimmee, FL, for the fiscal year 2024 is set at $2,240.
The market rent, as indicated by the Zillow Observed Rent Index (ZORI), stands at $2,025.
The median home value in Kissimmee is $403,365, reflecting the overall property values in the area.
Renters make up 49.7% of the local housing market, indicating a nearly equal split between renters and homeowners.
The days on market (DOM) for properties in this area average around 91 days, suggesting that listings typically take about three months to sell.
The median household income in Kissimmee is $77,755, providing insight into the financial capacity of potential tenants.

The data points indicate a balanced market where rental demand is strong enough to support a significant portion of the housing stock, but the median income level suggests that tenants may be price-sensitive. With the Fair Market Rent slightly above the market rent, Section 8 landlords can expect to compete effectively with private market rentals. However, the longer-than-average DOM highlights a potentially slower sales environment, which could impact the resale value of investments over time. For investors, Kissimmee offers a mix of opportunity and challenge, with the potential for steady rental income in a high-renter-share area, though they should be prepared for the realities of a moderately priced market.

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.