For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32572 (Milton, FL) is $1,780 a month. That is up 6.0% from $1,680 in FY 2026. Milton 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, 32572 is tied for the 5th-highest two-bedroom rent (county range $1,330–$2,170). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32572 is 21% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 32572
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,270
$1,330
+4.7%
$1,197–$1,463
1BR
$1,440
$1,560
+8.3%
$1,404–$1,716
2BR
$1,680
$1,780
+6.0%
$1,602–$1,958
3BR
$2,230
$2,340
+4.9%
$2,106–$2,574
4BR
$2,710
$2,800
+3.3%
$2,520–$3,080
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 32572
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,330
$1,560
$1,780
$2,340
$2,800
FY 2026
$1,270
$1,440
$1,680
$2,230
$2,710
FY 2025
$1,370
$1,530
$1,810
$2,420
$2,980
FY 2024
$1,160
$1,220
$1,420
$1,940
$2,410
FY 2023
$1,070
$1,110
$1,290
$1,790
$2,200
Two-bedroom rent in nearby Santa Rosa County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 32572?
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 $1,780 it would be $1,602 to $1,958. 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 32572 in?
ZIP 32572 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 32572 for FY 2027?
The two-bedroom FMR rose 6.0%, from $1,680 in FY 2026 to $1,780 in FY 2027. Since FY 2023 it has risen 38.0%.
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