FMR is below market; voucher rent may lag private rents.
0.65
1 BR
1 BR
0.64ratio
FMR$1,180
Market$1,850
vs market-$670
FMR is below market; voucher rent may lag private rents.
0.64
2 BR
2 BR
0.81ratio
FMR$1,540
Market$1,900
vs market-$360
FMR is below market; voucher rent may lag private rents.
0.81
3 BR
3 BR
0.91ratio
FMR$1,880
Market$2,060
vs market-$180
FMR is near market; voucher and private rents are aligned.
0.91
4 BR
4 BR
1.02ratio
FMR$2,570
Market$2,510
vs market+$60
FMR is near market; voucher and private rents are aligned.
1.02
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 32969 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32969 (Vero Beach, FL) is $1,540 a month. That is down 3.8% from $1,600 in FY 2026. Vero Beach is in the Sebastian-Vero Beach-West Vero Corridor, FL MSA. 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 $1,542. Among 17 ZIP codes in Indian River County, 32969 is tied for the 8th-highest two-bedroom rent (county range $1,250–$2,310). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32969 is 4% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 32969
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,210
$1,170
−3.3%
$1,053–$1,287
1BR
$1,220
$1,180
−3.3%
$1,062–$1,298
2BR
$1,600
$1,540
−3.7%
$1,386–$1,694
3BR
$1,950
$1,880
−3.6%
$1,692–$2,068
4BR
$2,680
$2,570
−4.1%
$2,313–$2,827
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 32969
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,170
$1,180
$1,540
$1,880
$2,570
FY 2026
$1,210
$1,220
$1,600
$1,950
$2,680
FY 2025
$1,240
$1,250
$1,570
$1,950
$2,610
FY 2024
$990
$1,190
$1,460
$1,840
$2,480
FY 2023
$840
$1,050
$1,260
$1,620
$2,100
Two-bedroom rent in nearby Indian River County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 32969?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,542, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,388 to $1,696 a month; under the ZIP-level Small Area FMR of $1,540 it would be $1,386 to $1,694. 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 32969 in?
ZIP 32969 is in the Sebastian-Vero Beach-West Vero Corridor, FL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,542.
How much did fair market rent change in ZIP 32969 for FY 2027?
The two-bedroom FMR fell 3.8%, from $1,600 in FY 2026 to $1,540 in FY 2027. Since FY 2023 it has risen 22.2%.
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