HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Okaloosa County, Florida (FY 2027)
A two-bedroom in Okaloosa County carries a FY 2027 Fair Market Rent of $1,908 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Okaloosa keys off that figure.
Two-bedroom FMR
$1,908
+6.9% from FY 2026
Payment standard
$1,717–$2,099
90% to 110% of the FMR, two-bedroom
Income to afford
$76,320
a year, with rent at 30% of income
Rank in Florida
18th of 67
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $1,421 | $1,279–$1,563 | $56,840 | $27.33/hr | +4.3% |
| 1 bedroom | $1,706 | $1,535–$1,877 | $68,240 | $32.81/hr | +7.9% |
| 2 bedroom | $1,908 | $1,717–$2,099 | $76,320 | $36.69/hr | +6.9% |
| 3 bedroom | $2,616 | $2,354–$2,878 | $104,640 | $50.31/hr | +6.9% |
| 4 bedroom | $3,189 | $2,870–$3,508 | $127,560 | $61.33/hr | +7.0% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $3,667 | $3,300–$4,034 |
| 6 bedroom Estimate | $4,146 | $3,731–$4,561 |
| 7 bedroom Estimate | $4,624 | $4,162–$5,086 |
| 8 bedroom Estimate | $5,102 | $4,592–$5,612 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Okaloosa actually rent for?
Search any address in Okaloosa for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Okaloosa somewhere between $1,717 and $2,099. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,908 a month is affordable, by HUD's 30% rule, on an income of roughly $76,320 a year. Put another way, $37 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,717 | Voucher pays at 100%$1,908 | Voucher pays at 110%$2,099 |
|---|---|---|---|---|
| $2,500 | $750 | $967 | $1,158 | $1,349 |
| $4,000 | $1,200 | $517 | $708 | $899 |
Rate history
The two-bedroom rate went up 7% from FY 2026 ($1,785) to FY 2027 ($1,908). Since FY 2020 it's up 71% in total, about 8.0% a year. The Florida median held flat over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $941 | $947 | $1,116 | $1,528 | $1,959 | — |
| FY 2021 | $977 | $983 | $1,168 | $1,559 | $2,022 | +4.7% |
| FY 2022 | $981 | $987 | $1,172 | $1,542 | $1,997 | +0.3% |
| FY 2023 | $1,058 | $1,126 | $1,314 | $1,753 | $2,238 | +12.1% |
| FY 2024 | $1,211 | $1,319 | $1,526 | $2,064 | $2,557 | +16.1% |
| FY 2025 | $1,218 | $1,398 | $1,571 | $2,184 | $2,638 | +2.9% |
| FY 2026 | $1,362 | $1,581 | $1,785 | $2,448 | $2,979 | +13.6% |
| FY 2027In effect | $1,421 | $1,706 | $1,908 | $2,616 | $3,189 | +6.9% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Okaloosa, that runs from $1,421 for a studio up to $3,189 for four bedrooms, all five rates in the table above.
Okaloosa is its own HUD metro area (Crestview-Fort Walton Beach-Destin, FL), so the rate here is set from rents inside the county rather than a wider region.
Among Florida's 67 counties, Okaloosa ranks 18th for two-bedroom FMR. That's about 29% above the state median of $1,474 and about 79% above the national median county at $1,063. About 216,599 people live here, 26th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,610 in 32531 (Baker) and $2,530 in 32542 (Eglin Afb), with the 17 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 32531 | Baker | $1,610 | -15.6% |
| 32536 | Crestview | $1,760 | -7.8% |
| 32537 | Milligan | $1,908County rate | — |
| 32539 | Crestview | $1,660 | -13.0% |
| 32540 | Destin | $1,910 | +0.1% |
| 32541 | Destin | $2,470 | +29.5% |
| 32542 | Eglin Afb | $2,530 | +32.6% |
| 32544 | Hurlburt Field | $2,450 | +28.4% |
| 32547 | Fort Walton Beach | $1,850 | -3.0% |
| 32548 | Fort Walton Beach | $1,910 | +0.1% |
| 32549 | Fort Walton Beach | $1,910 | +0.1% |
| 32564 | Holt | $1,610 | -15.6% |
| 32567 | Laurel Hill | $1,610 | -15.6% |
| 32569 | Mary Esther | $1,880 | -1.5% |
| 32578 | Niceville | $2,260 | +18.4% |
| 32579 | Shalimar | $2,030 | +6.4% |
| 32580 | Valparaiso | $1,670 | -12.5% |
| 32588 | Niceville | $1,910 | +0.1% |
Nearby counties
Two-bedroom FMR, with how each compares to Okaloosa.
Walton County
23 mi · 82,948 people
$1,474
-23%
Santa Rosa County
29 mi · 198,472 people
$1,548
-19%
Escambia County
41 mi · 325,923 people
$1,548
-19%
Holmes County
51 mi · 19,513 people
$971
-49%
Washington County
52 mi · 25,529 people
$1,040
-45%
Bay County
61 mi · 186,393 people
$1,651
-13%
Jackson County
83 mi · 48,250 people
$962
-50%
Calhoun County
86 mi · 13,492 people
$953
-50%
Questions people ask
$1,908 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,421 for a studio, $1,706 for one bedroom, $2,616 for three and $3,189 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Okaloosa actually go for?
HUD's number is one input. Search any address in Okaloosa for a rent estimate built from nearby comps. Free to start, no card.
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