FMR is below market; voucher rent may lag private rents.
0.81
1 BR
1 BR
0.93ratio
FMR$1,530
Market$1,640
vs market-$110
FMR is near market; voucher and private rents are aligned.
0.93
2 BR
2 BR
0.98ratio
FMR$1,780
Market$1,820
vs market-$40
FMR is near market; voucher and private rents are aligned.
0.98
3 BR
3 BR
0.89ratio
FMR$2,380
Market$2,680
vs market-$300
FMR is below market; voucher rent may lag private rents.
0.89
4 BR
4 BR
0.92ratio
FMR$2,710
Market$2,960
vs market-$250
FMR is near market; voucher and private rents are aligned.
0.92
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
--
ZIP 32941 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32941 (Melbourne, FL) is $1,780 a month. That is up 4.1% from $1,710 in FY 2026. Melbourne 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, 32941 is tied for the 16th-highest two-bedroom rent (county range $1,250–$2,420). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32941 is 21% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 32941
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,270
$1,330
+4.7%
$1,197–$1,463
1BR
$1,480
$1,530
+3.4%
$1,377–$1,683
2BR
$1,710
$1,780
+4.1%
$1,602–$1,958
3BR
$2,330
$2,380
+2.1%
$2,142–$2,618
4BR
$2,650
$2,710
+2.3%
$2,439–$2,981
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 32941
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,330
$1,530
$1,780
$2,380
$2,710
FY 2026
$1,270
$1,480
$1,710
$2,330
$2,650
FY 2025
$1,210
$1,410
$1,640
$2,230
$2,550
FY 2024
$1,030
$1,210
$1,430
$1,930
$2,260
FY 2023
$970
$1,150
$1,380
$1,840
$2,190
Two-bedroom rent in nearby Brevard County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 32941?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,780, that basic range is $1,602 to $1,958 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 32941 in?
ZIP 32941 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 32941 for FY 2027?
The two-bedroom FMR rose 4.1%, from $1,710 in FY 2026 to $1,780 in FY 2027. Since FY 2023 it has risen 29.0%.
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