FMR is near market; voucher and private rents are aligned.
1.06
1 BR
1 BR
1.07ratio
FMR$1,900
Market$1,780
vs market+$120
FMR is near market; voucher and private rents are aligned.
1.07
2 BR
2 BR
0.98ratio
FMR$2,160
Market$2,210
vs market-$50
FMR is near market; voucher and private rents are aligned.
0.98
3 BR
3 BR
1.10ratio
FMR$2,700
Market$2,450
vs market+$250
FMR is above market; underwrite to market rent.
1.10
4 BR
4 BR
1.07ratio
FMR$3,150
Market$2,940
vs market+$210
FMR is near market; voucher and private rents are aligned.
1.07
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 32831 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32831 (Orlando, FL) is $2,160 a month. That is down 2.3% from $2,210 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, 32831 has the 18th-highest two-bedroom rent (county range $1,370–$2,690). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32831 is 47% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 32831
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,850
$1,830
−1.1%
$1,647–$2,013
1BR
$1,940
$1,900
−2.1%
$1,710–$2,090
2BR
$2,210
$2,160
−2.3%
$1,944–$2,376
3BR
$2,770
$2,700
−2.5%
$2,430–$2,970
4BR
$3,280
$3,150
−4.0%
$2,835–$3,465
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 32831
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,830
$1,900
$2,160
$2,700
$3,150
FY 2026
$1,850
$1,940
$2,210
$2,770
$3,280
FY 2025
$1,880
$1,980
$2,240
$2,850
$3,390
FY 2024
$1,770
$1,860
$2,110
$2,680
$3,230
FY 2023
$1,510
$1,610
$1,830
$2,330
$2,830
Two-bedroom rent in nearby Orange County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 32831?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,160, that basic range is $1,944 to $2,376 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 32831 in?
ZIP 32831 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 32831 for FY 2027?
The two-bedroom FMR fell 2.3%, from $2,210 in FY 2026 to $2,160 in FY 2027. Since FY 2023 it has risen 18.0%.
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