FMR is below market; voucher rent may lag private rents.
0.85
1 BR
1 BR
0.69ratio
FMR$980
Market$1,420
vs market-$440
FMR is below market; voucher rent may lag private rents.
0.69
2 BR
2 BR
0.76ratio
FMR$1,190
Market$1,560
vs market-$370
FMR is below market; voucher rent may lag private rents.
0.76
3 BR
3 BR
0.97ratio
FMR$1,650
Market$1,700
vs market-$50
FMR is near market; voucher and private rents are aligned.
0.97
4 BR
4 BR
1.07ratio
FMR$1,990
Market$1,860
vs market+$130
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 34451 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 34451 (Inverness, FL) is $1,190 a month. That is down 3.3% from $1,230 in FY 2026. Inverness is in the Homosassa Springs, 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 $1,194. Among 23 ZIP codes in Citrus County, 34451 is tied for the 9th-highest two-bedroom rent (county range $1,110–$1,460). The median county two-bedroom FMR in Florida is $1,474, so ZIP 34451 is 19% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 34451
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$990
$980
−1.0%
$882–$1,078
1BR
$990
$980
−1.0%
$882–$1,078
2BR
$1,230
$1,190
−3.3%
$1,071–$1,309
3BR
$1,710
$1,650
−3.5%
$1,485–$1,815
4BR
$2,020
$1,990
−1.5%
$1,791–$2,189
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 34451
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$980
$980
$1,190
$1,650
$1,990
FY 2026
$990
$990
$1,230
$1,710
$2,020
FY 2025
$950
$950
$1,200
$1,680
$2,020
FY 2024
$850
$860
$1,120
$1,560
$1,900
FY 2023
$720
$740
$970
$1,340
$1,650
Two-bedroom rent in nearby Citrus County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 34451?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,194, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,075 to $1,313 a month; under the ZIP-level Small Area FMR of $1,190 it would be $1,071 to $1,309. 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 34451 in?
ZIP 34451 is in the Homosassa Springs, FL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,194.
How much did fair market rent change in ZIP 34451 for FY 2027?
The two-bedroom FMR fell 3.3%, from $1,230 in FY 2026 to $1,190 in FY 2027. Since FY 2023 it has risen 22.7%.
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