Okaloosa County, FL: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,9082-bedroom FMR, FY2027

$1,7061-bedroom FMR, FY2027

$85,35080% income limit, family of 4 (FY2026)

$106,700Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Okaloosa County is $1,908 a month, up 6.9% from $1,785 in FY2026. Okaloosa County belongs to the Crestview-Fort Walton Beach-Destin, FL HUD Metro FMR Area FMR area, so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Okaloosa County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$1,421	$1,362	+4.3%	$1,279 – $1,563
1 bedroom	$1,706	$1,581	+7.9%	$1,536 – $1,876
2 bedrooms	$1,908	$1,785	+6.9%	$1,718 – $2,098
3 bedrooms	$2,616	$2,448	+6.9%	$2,355 – $2,877
4 bedrooms	$3,189	$2,979	+7.0%	$2,871 – $3,507

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Okaloosa County that is typically $1,718 to $2,098 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$58,571median income of renter households

$1,612Median gross rent, all units

33%Rent-to-income ratio (median rent ÷ median renter income)

55%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $58,571 can afford about $1,464 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,908 is $444 (30.3%) more than that. To rent a two-bedroom at the FMR, a household needs $76,320 a year under the 30% rule, or $68,688 under the common landlord rule that income must be three times the rent.

Okaloosa County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,612 ±$44
Median income of renter households	$58,571 ±$2,096
Renters paying 30% or more of income (cost-burdened)	55.0% ±3.2
Renters paying 50% or more (severely cost-burdened)	21.4% ±2.1
Renter households (where the share can be computed)	25,416

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$1,127	$1,612	+43.0%
Median renter household income	$42,558	$58,571	+37.6%
Renters paying 30%+ of income	50.6%	55.0%	+4.4 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

Small Area FMRs by ZIP code (FY2027)

In metro areas HUD also publishes ZIP-level Small Area Fair Market Rents. Housing authorities in designated areas must use them for voucher payment standards; others may opt in. Here the two-bedroom SAFMR ranges from $1,610 to $2,530 depending on the ZIP code.

All 18 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
32433	$1,230	$1,430	$1,610	$2,210	$2,690
32531	$1,230	$1,430	$1,610	$2,210	$2,690
32536	$1,310	$1,570	$1,760	$2,410	$2,940
32539	$1,240	$1,490	$1,660	$2,280	$2,780
32540	$1,420	$1,710	$1,910	$2,620	$3,190
32541	$1,840	$2,210	$2,470	$3,390	$4,130
32542	$1,880	$2,260	$2,530	$3,470	$4,230
32544	$1,820	$2,190	$2,450	$3,360	$4,100
32547	$1,380	$1,650	$1,850	$2,540	$3,090
32548	$1,420	$1,710	$1,910	$2,620	$3,190
32549	$1,420	$1,710	$1,910	$2,620	$3,190
32564	$1,230	$1,430	$1,610	$2,210	$2,690
32567	$1,230	$1,430	$1,610	$2,210	$2,690
32569	$1,400	$1,680	$1,880	$2,580	$3,140
32578	$1,680	$2,020	$2,260	$3,100	$3,770
32579	$1,510	$1,810	$2,030	$2,780	$3,390
32580	$1,240	$1,490	$1,670	$2,290	$2,790
32588	$1,420	$1,710	$1,910	$2,620	$3,190

Source: HUD FY2027 Small Area FMRs (effective October 1, 2026).

HUD income limits for Okaloosa County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $106,700 (FY2025: $102,000, +4.6%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$22,400 +4.4%	$25,600 +4.5%	$28,800 +4.5%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$37,350 +4.6%	$42,700 +4.7%	$48,050 +4.7%	$53,350 +4.6%	$57,650 +4.6%	$61,900 +4.6%	$66,200 +4.7%	$70,450 +4.6%
Low income (80%)	$59,750 +4.5%	$68,300 +4.6%	$76,850 +4.6%	$85,350 +4.6%	$92,200 +4.6%	$99,050 +4.6%	$105,850 +4.6%	$112,700 +4.6%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.