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Hernando County/Spring Hill/34608

34608

ZIPSAFMR
Hernando County, FL
Zillow

ZIP Investment Score

94Below average

095130300
BRFMR
Eff. Rent
0 BR$1,320$1,370
1 BR$1,360$1,420
2 BR$1,580$1,570
3 BR$2,020$1,960
4 BR$2,450$2,050
5 BR$2,818Not available
6 BR$3,240Not available
7 BR$3,726Not available
8 BR$4,285Not available

Purchase Price Calculator

Maximum purchase price
$171,385

Cost breakdown

+Likely effective rent$1,570
HUD FMR$1,580
Market rentUsed$1,570
Est. payment standard (100%)$1,570
-Principal and interest-$867
Loan amount$137,108
Down payment$34,277
Rate6.50%
Term30 years
-Operating costs-$503
Property taxes-$171
Insurance-$175
Utilities$0
HOA$0
Management-$157
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,290(73.8% ROI)
Projected value
$184,563
Return breakdown
Property appreciation+$13,178
Loan principal paid down+$4,912
Rental cash flow+$7,200
5-year hold
+$43,281(126.3% ROI)
Projected value
$193,906
Return breakdown
Property appreciation+$22,521
Loan principal paid down+$8,760
Rental cash flow+$12,000
10-year hold
+$92,875(271.0% ROI)
Projected value
$219,387
Return breakdown
Property appreciation+$48,002
Loan principal paid down+$20,873
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.95
1 BR
0.94
2 BR
1.01
3 BR
1.03
4 BR
1.20
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 34608 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 34608 (Spring Hill, FL) is $1,580 a month. That is down 6.0% from $1,680 in FY 2026. Spring Hill is in the Tampa-St. Petersburg-Clearwater, FL MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 18 ZIP codes in Hernando County, 34608 is tied for the 4th-highest two-bedroom rent (county range $1,020–$1,980). The median county two-bedroom FMR in Florida is $1,474, so ZIP 34608 is 7% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 34608
BedroomsFY 2027Change90–110% range
Studio$1,320−2.2%$1,188–$1,452
1BR$1,360−5.6%$1,224–$1,496
2BR$1,580−6.0%$1,422–$1,738
3BR$2,020−6.0%$1,818–$2,222
4BR$2,450−6.1%$2,205–$2,695

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 34608
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,320$1,360$1,580$2,020$2,450
FY 2026$1,350$1,440$1,680$2,150$2,610
FY 2025$1,390$1,490$1,750$2,240$2,730
FY 2024$1,320$1,430$1,690$2,160$2,640
FY 2023$1,200$1,280$1,540$1,970$2,420

Two-bedroom rent in nearby Hernando County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 34608
34602$1,5800.0%
34603$1,570−0.6%
34604$1,510−4.4%
34605$1,570−0.6%
34606$1,530−3.2%
34607$1,620+2.5%
34608Current$1,580—
34609$1,980+25.3%
34610$1,710+8.2%
34611$1,570−0.6%
34613$1,460−7.6%
34614$1,400−11.4%

Questions about ZIP 34608 rents

How much will Section 8 pay for a two-bedroom in ZIP 34608?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,580, that basic range is $1,422 to $1,738 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 34608 in?

ZIP 34608 is in the Tampa-St. Petersburg-Clearwater, 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 34608 for FY 2027?

The two-bedroom FMR fell 6.0%, from $1,680 in FY 2026 to $1,580 in FY 2027. Since FY 2023 it has risen 2.6%.

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 rentSpring Hill, FL fair market rentFL statewide rentsWhat is SAFMR?Data sources