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Walton County/Santa Rosa Beach/32459

32459

ZIPSAFMR
Walton County, FL
Zillow

ZIP Investment Score

47Below average

095130300
BRFMR
Eff. Rent
0 BR$1,400$1,540
1 BR$1,690$1,860
2 BR$1,840$2,020
3 BR$2,550$2,480
4 BR$3,080$3,390
5 BR$3,542Not available
6 BR$4,073Not available
7 BR$4,684Not available
8 BR$5,387Not available

Purchase Price Calculator

Maximum purchase price
$238,255

Cost breakdown

+Likely effective rent$2,020
HUD FMR$1,840
Market rent$2,200
Est. payment standard (110%)Used$2,020
-Principal and interest-$1,205
Loan amount$190,604
Down payment$47,651
Rate6.50%
Term30 years
-Operating costs-$615
Property taxes-$238
Insurance-$175
Utilities$0
HOA$0
Management-$202
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$32,348(67.9% ROI)
Projected value
$256,574
Return breakdown
Property appreciation+$18,320
Loan principal paid down+$6,829
Rental cash flow+$7,200
5-year hold
+$55,486(116.4% ROI)
Projected value
$269,563
Return breakdown
Property appreciation+$31,309
Loan principal paid down+$12,178
Rental cash flow+$12,000
10-year hold
+$119,749(251.3% ROI)
Projected value
$304,986
Return breakdown
Property appreciation+$66,731
Loan principal paid down+$29,017
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.72
1 BR
0.81
2 BR
0.84
3 BR
1.03
4 BR
0.85
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 32459 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32459 (Santa Rosa Beach, FL) is $1,840 a month. That is up 1.1% from $1,820 in FY 2026. Santa Rosa Beach is in the Walton County, FL HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,474. Among 13 ZIP codes in Walton County, 32459 has the 4th-highest two-bedroom rent (county range $1,230–$2,260). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32459 is 25% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 32459
BedroomsFY 2027Change90–110% range
Studio$1,400−0.7%$1,260–$1,540
1BR$1,690+1.8%$1,521–$1,859
2BR$1,840+1.1%$1,656–$2,024
3BR$2,550+0.8%$2,295–$2,805
4BR$3,080+1.0%$2,772–$3,388

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 32459
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,400$1,690$1,840$2,550$3,080
FY 2026$1,410$1,660$1,820$2,530$3,050
FY 2025$1,360$1,560$1,730$2,420$2,910
FY 2024$1,420$1,590$1,790$2,400$2,960
FY 2023$1,340$1,510$1,710$2,240$2,610

Two-bedroom rent in nearby Walton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 32459
32422$1,470−20.1%
32433$1,610−12.5%
32435$1,230−33.2%
32439$1,440−21.7%
32455$1,230−33.2%
32459Current$1,840—
32461$2,210+20.1%
32462$1,520−17.4%
32464$1,230−33.2%
32539$1,660−9.8%
32550$2,010+9.2%
32567$1,610−12.5%

Questions about ZIP 32459 rents

How much will Section 8 pay for a two-bedroom in ZIP 32459?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,474, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,327 to $1,621 a month; under the ZIP-level Small Area FMR of $1,840 it would be $1,656 to $2,024. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 32459 in?

ZIP 32459 is in the Walton County, FL HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,474.

How much did fair market rent change in ZIP 32459 for FY 2027?

The two-bedroom FMR rose 1.1%, from $1,820 in FY 2026 to $1,840 in FY 2027. Since FY 2023 it has risen 7.6%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentSanta Rosa Beach, FL fair market rentFL statewide rentsWhat is SAFMR?Data sources