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Orange County/Orlando/32821

32821

ZIPSAFMR
Orange County, FL
Zillow

ZIP Investment Score

96Above average

095130300
BRFMR
Eff. Rent
0 BR$1,800$1,500
1 BR$1,880$1,720
2 BR$2,130$2,180
3 BR$2,660$2,460
4 BR$3,110$3,320
5 BR$3,576Not available
6 BR$4,113Not available
7 BR$4,730Not available
8 BR$5,439Not available

Purchase Price Calculator

Maximum purchase price
$262,031

Cost breakdown

+Likely effective rent$2,180
HUD FMR$2,130
Market rent$2,210
Est. payment standard (102%)Used$2,180
-Principal and interest-$1,325
Loan amount$209,624
Down payment$52,406
Rate6.50%
Term30 years
-Operating costs-$655
Property taxes-$262
Insurance-$175
Utilities$0
HOA$0
Management-$218
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$34,858(66.5% ROI)
Projected value
$282,178
Return breakdown
Property appreciation+$20,148
Loan principal paid down+$7,510
Rental cash flow+$7,200
5-year hold
+$59,826(114.2% ROI)
Projected value
$296,464
Return breakdown
Property appreciation+$34,433
Loan principal paid down+$13,393
Rental cash flow+$12,000
10-year hold
+$129,304(246.7% ROI)
Projected value
$335,421
Return breakdown
Property appreciation+$73,391
Loan principal paid down+$31,913
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.20
1 BR
1.09
2 BR
0.96
3 BR
1.08
4 BR
0.91
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 32821 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32821 (Orlando, FL) is $2,130 a month. That is down 1.8% from $2,170 in FY 2026. Orlando is in the Orlando-Kissimmee-Sanford, FL MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 78 ZIP codes in Orange County, 32821 has the 21st-highest two-bedroom rent (county range $1,370–$2,690). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32821 is 45% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 32821
BedroomsFY 2027Change90–110% range
Studio$1,800−1.1%$1,620–$1,980
1BR$1,880−1.1%$1,692–$2,068
2BR$2,130−1.8%$1,917–$2,343
3BR$2,660−2.2%$2,394–$2,926
4BR$3,110−3.4%$2,799–$3,421

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 32821
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,800$1,880$2,130$2,660$3,110
FY 2026$1,820$1,900$2,170$2,720$3,220
FY 2025$1,820$1,920$2,180$2,770$3,300
FY 2024$1,750$1,840$2,090$2,660$3,210
FY 2023$1,660$1,760$2,000$2,550$3,100

Two-bedroom rent in nearby Orange County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 32821
32814$2,660+24.9%
32816$1,860−12.7%
32817$2,030−4.7%
32818$1,750−17.8%
32819$2,270+6.6%
32820$1,950−8.5%
32821Current$2,130—
32822$1,970−7.5%
32824$2,120−0.5%
32825$2,070−2.8%
32826$1,760−17.4%
32827$2,590+21.6%

Questions about ZIP 32821 rents

How much will Section 8 pay for a two-bedroom in ZIP 32821?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,130, that basic range is $1,917 to $2,343 a month. 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 32821 in?

ZIP 32821 is in the Orlando-Kissimmee-Sanford, FL MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 32821 for FY 2027?

The two-bedroom FMR fell 1.8%, from $2,170 in FY 2026 to $2,130 in FY 2027. Since FY 2023 it has risen 6.5%.

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

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