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Brevard County/Palm Bay/32907

32907

ZIPSAFMR
Brevard County, FL
Zillow

ZIP Investment Score

92Below average

095130300
BRFMR
Eff. Rent
0 BR$1,540$1,600
1 BR$1,770$1,600
2 BR$2,060$1,770
3 BR$2,760$1,890
4 BR$3,140$2,320
5 BR$3,611Not available
6 BR$4,153Not available
7 BR$4,776Not available
8 BR$5,492Not available

Purchase Price Calculator

Maximum purchase price
$201,105

Cost breakdown

+Likely effective rent$1,770
HUD FMR$2,060
Market rentUsed$1,770
Est. payment standard (91%)$1,870
-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
0.94
1 BR
1.11
2 BR
1.16
3 BR
1.46
4 BR
1.35
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 32907 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32907 (Palm Bay, FL) is $2,060 a month. That is up 6.7% from $1,930 in FY 2026. Palm Bay is in the Palm Bay-Melbourne-Titusville, FL MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 45 ZIP codes in Brevard County, 32907 has the 10th-highest two-bedroom rent (county range $1,250–$2,420). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32907 is 40% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 32907
BedroomsFY 2027Change90–110% range
Studio$1,540+7.7%$1,386–$1,694
1BR$1,770+6.0%$1,593–$1,947
2BR$2,060+6.7%$1,854–$2,266
3BR$2,760+4.9%$2,484–$3,036
4BR$3,140+5.0%$2,826–$3,454

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 32907
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,540$1,770$2,060$2,760$3,140
FY 2026$1,430$1,670$1,930$2,630$2,990
FY 2025$1,310$1,530$1,780$2,420$2,770
FY 2024$1,100$1,290$1,530$2,070$2,410
FY 2023$1,020$1,210$1,460$1,950$2,320

Two-bedroom rent in nearby Brevard County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 32907
32901$1,770−14.1%
32902$1,780−13.6%
32903$2,090+1.5%
32904$2,110+2.4%
32905$1,670−18.9%
32906$1,780−13.6%
32907Current$2,060—
32908$2,150+4.4%
32909$1,800−12.6%
32910$1,780−13.6%
32911$1,780−13.6%
32912$1,780−13.6%

Questions about ZIP 32907 rents

How much will Section 8 pay for a two-bedroom in ZIP 32907?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,060, that basic range is $1,854 to $2,266 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 32907 in?

ZIP 32907 is in the Palm Bay-Melbourne-Titusville, 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 32907 for FY 2027?

The two-bedroom FMR rose 6.7%, from $1,930 in FY 2026 to $2,060 in FY 2027. Since FY 2023 it has risen 41.1%.

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