Section 8 Fair Market Rent (FMR) for ZIP 34778 - 2027

FY 2027 Fair Market Rent Rates

Winter Garden, FL, represented by ZIP code 34778, is an established neighborhood with a total population of 9,778 residents. While specific figures for the percentage of renters are not provided, the median household income is $39,778, and the median home value is $201,117. The median rent in the area is $1,104.

The Federal Market Rent (FMR) for ZIP code 34778 in fiscal year 2024 is set at $1,870. This is significantly higher than the median rent of $1,104, indicating that the FMR may cover a broader range of rental properties within the area, including those that are more expensive.

Given the disparity between the FMR and the median rent, Winter Garden, FL, might be better suited for a hands-on value-add buyer rather than a hands-off voucher operator. The higher FMR suggests that there could be opportunities to improve and reposition properties to command rents closer to the FMR level, thus maximizing returns for active investors. Meanwhile, hands-off operators who rely solely on voucher tenants might struggle with the gap between the FMR and actual market rents, potentially leading to lower occupancy rates or financial inefficiencies.

Investors considering entering this market should carefully evaluate the potential for value-add strategies, such as renovations or improvements to increase rental rates. Additionally, the below-average cost of living index of 59, which is lower than the national average of 100, means that your dollar stretches further here, translating to higher disposable income for residents and potentially easier management of properties.

Data Sources: FMR data from HUD (2027).

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.