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 | $1,730 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,040 |
| 3 Bedrooms | $2,550 |
| 4 Bedrooms | $2,970 |
| 5 Bedrooms | $3,445 |
| 6 Bedrooms | $3,858 |
| 7 Bedrooms | $4,167 |
| 8 Bedrooms | $4,375 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,040 | $358,830 | 0.57% | F |
| 3BR | $2,550 | $391,205 | 0.65% | D |
| 4BR | $2,970 | $447,978 | 0.66% | D |
| 5BR | $3,445 | $547,451 | 0.63% | D |
U.S. Census Bureau data (2024)
ZIP code 34771 encompasses a part of Saint Cloud, FL, characterized by a relatively low rental population. With a total population of 35,257, only 15.0% are renters, indicating a predominantly owner-occupied area. The median household income here is strong at $97,415, which suggests residents have the financial capability to afford higher living costs. Reflecting this, the median home value in the area is substantial, standing at $437,200.
The economic landscape for rental properties in ZIP 34771 is defined by the stark contrast between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR for the zip code is set at $1,770. In comparison, the Zillow Observed Rent Index (ZORI), which measures actual rents paid, stands at $2,474. This indicates that the rental market in Saint Cloud, FL, is above the federal guidelines, potentially offering opportunities for higher returns on investment for those willing to manage properties actively.
Given these figures, ZIP 34771 might not be the best fit for a hands-off voucher operator due to the lower percentage of renters and the higher market rents compared to the FMR. However, it could be an excellent location for a hands-on value-add buyer looking to capitalize on the premium rental market. Such an investor would need to focus on property management and possibly upgrading units to justify the higher rents commanded in this affluent neighborhood.
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.