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Okaloosa County/Valparaiso/32580

32580

ZIPSAFMR
Okaloosa County, FL
Zillow

ZIP Investment Score

99Above average

095130300
BRFMR
Eff. Rent
0 BR$1,240$1,320
1 BR$1,490$1,520
2 BR$1,670$1,770
3 BR$2,290$2,210
4 BR$2,790$2,890
5 BR$3,208Not available
6 BR$3,690Not available
7 BR$4,243Not available
8 BR$4,880Not available

Purchase Price Calculator

Maximum purchase price
$201,105

Cost breakdown

+Likely effective rent$1,770
HUD FMR$1,670
Market rent$1,820
Est. payment standard (106%)Used$1,770
-Principal and interest-$1,017
Loan amount$160,884
Down payment$40,221
Rate6.50%
Term30 years
-Operating costs-$553
Property taxes-$201
Insurance-$175
Utilities$0
HOA$0
Management-$177
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,427(70.7% ROI)
Projected value
$216,568
Return breakdown
Property appreciation+$15,463
Loan principal paid down+$5,764
Rental cash flow+$7,200
5-year hold
+$48,706(121.1% ROI)
Projected value
$227,532
Return breakdown
Property appreciation+$26,427
Loan principal paid down+$10,279
Rental cash flow+$12,000
10-year hold
+$104,819(260.6% ROI)
Projected value
$257,431
Return breakdown
Property appreciation+$56,326
Loan principal paid down+$24,493
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.91
1 BR
0.97
2 BR
0.92
3 BR
1.04
4 BR
0.95
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 32580 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32580 (Valparaiso, FL) is $1,670 a month. That is up 2.5% from $1,630 in FY 2026. Valparaiso 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, 32580 has the 13th-highest two-bedroom rent (county range $1,610–$2,530). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32580 is 13% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 32580
BedroomsFY 2027Change90–110% range
Studio$1,2400.0%$1,116–$1,364
1BR$1,490+3.5%$1,341–$1,639
2BR$1,670+2.5%$1,503–$1,837
3BR$2,290+2.2%$2,061–$2,519
4BR$2,790+2.6%$2,511–$3,069

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 32580
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,240$1,490$1,670$2,290$2,790
FY 2026$1,240$1,440$1,630$2,240$2,720
FY 2025$1,170$1,340$1,510$2,100$2,540
FY 2024$1,210$1,320$1,530$2,070$2,560
FY 2023$1,070$1,140$1,330$1,770$2,270

Two-bedroom rent in nearby Okaloosa County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 32580
32542$2,530+51.5%
32544$2,450+46.7%
32547$1,850+10.8%
32548$1,910+14.4%
32549$1,910+14.4%
32564$1,610−3.6%
32567$1,610−3.6%
32569$1,880+12.6%
32578$2,260+35.3%
32579$2,030+21.6%
32580Current$1,670—
32588$1,910+14.4%

Questions about ZIP 32580 rents

How much will Section 8 pay for a two-bedroom in ZIP 32580?

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 $1,670 it would be $1,503 to $1,837. 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 32580 in?

ZIP 32580 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 32580 for FY 2027?

The two-bedroom FMR rose 2.5%, from $1,630 in FY 2026 to $1,670 in FY 2027. Since FY 2023 it has risen 25.6%.

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 rentValparaiso, FL fair market rentFL statewide rentsWhat is SAFMR?Data sources