For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32542 (Eglin Afb, FL) is $2,530 a month. That is up 4.5% from $2,420 in FY 2026. Eglin Afb is in the Crestview-Fort Walton Beach-Destin, 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 $1,908. Among 18 ZIP codes in Okaloosa County, 32542 has the highest two-bedroom rent (county range $1,610–$2,530). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32542 is 72% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 32542
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,850
$1,880
+1.6%
$1,692–$2,068
1BR
$2,140
$2,260
+5.6%
$2,034–$2,486
2BR
$2,420
$2,530
+4.5%
$2,277–$2,783
3BR
$3,320
$3,470
+4.5%
$3,123–$3,817
4BR
$4,040
$4,230
+4.7%
$3,807–$4,653
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 32542
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,880
$2,260
$2,530
$3,470
$4,230
FY 2026
$1,850
$2,140
$2,420
$3,320
$4,040
FY 2025
$1,730
$1,980
$2,230
$3,100
$3,740
FY 2024
$1,700
$1,850
$2,140
$2,890
$3,590
FY 2023
$1,420
$1,520
$1,770
$2,360
$3,010
Two-bedroom rent in nearby Okaloosa County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 32542?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,908, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,717 to $2,099 a month; under the ZIP-level Small Area FMR of $2,530 it would be $2,277 to $2,783. 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 32542 in?
ZIP 32542 is in the Crestview-Fort Walton Beach-Destin, FL HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,908.
How much did fair market rent change in ZIP 32542 for FY 2027?
The two-bedroom FMR rose 4.5%, from $2,420 in FY 2026 to $2,530 in FY 2027. Since FY 2023 it has risen 42.9%.
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