FMR is near market; voucher and private rents are aligned.
1.05
1 BR
1 BR
1.13ratio
FMR$1,360
Market$1,200
vs market+$160
FMR is above market; underwrite to market rent.
1.13
2 BR
2 BR
1.13ratio
FMR$1,550
Market$1,370
vs market+$180
FMR is above market; underwrite to market rent.
1.13
3 BR
3 BR
1.15ratio
FMR$2,040
Market$1,780
vs market+$260
FMR is above market; underwrite to market rent.
1.15
4 BR
4 BR
1.18ratio
FMR$2,440
Market$2,060
vs market+$380
FMR is above market; underwrite to market rent.
1.18
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 32530 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32530 (Bagdad, FL) is $1,550 a month. That is up 4.0% from $1,490 in FY 2026. Bagdad is in the Pensacola-Ferry Pass-Brent, FL MSA. 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 $1,548. Among 13 ZIP codes in Santa Rosa County, 32530 is tied for the 10th-highest two-bedroom rent (county range $1,330–$2,170). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32530 is 5% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 32530
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,130
$1,160
+2.7%
$1,044–$1,276
1BR
$1,270
$1,360
+7.1%
$1,224–$1,496
2BR
$1,490
$1,550
+4.0%
$1,395–$1,705
3BR
$1,980
$2,040
+3.0%
$1,836–$2,244
4BR
$2,400
$2,440
+1.7%
$2,196–$2,684
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 32530
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,160
$1,360
$1,550
$2,040
$2,440
FY 2026
$1,130
$1,270
$1,490
$1,980
$2,400
FY 2025
$1,220
$1,360
$1,610
$2,150
$2,650
FY 2024
$1,030
$1,080
$1,260
$1,720
$2,140
FY 2023
$970
$1,010
$1,170
$1,630
$1,990
Two-bedroom rent in nearby Santa Rosa County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 32530?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,548, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,393 to $1,703 a month; under the ZIP-level Small Area FMR of $1,550 it would be $1,395 to $1,705. 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 32530 in?
ZIP 32530 is in the Pensacola-Ferry Pass-Brent, FL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,548.
How much did fair market rent change in ZIP 32530 for FY 2027?
The two-bedroom FMR rose 4.0%, from $1,490 in FY 2026 to $1,550 in FY 2027. Since FY 2023 it has risen 32.5%.
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