FY2027 Small Area FMR · Defuniak Springs, FL
ZIP 32435 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 32435 (Defuniak Springs, FL) is $1,230 a month, up 12.8% from FY2026. That is 17% below the Walton County, FL area-wide FMR of $1,474.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 32435 sits in the Walton County, FL area
Of the 14 ZIP codes HUD lists for the area, 32435 has the 12th highest two-bedroom Small Area FMR. Walton County, FL is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,474 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,230 for this ZIP code instead.
ZIP code 32435 crosses more than one HUD area. HUD also lists it under Holmes County, FL (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $960 | $864 – $1,056 | $1,123 | $860 |
| 1 bedroom | $1,120 | $1,008 – $1,232 | $1,354 | $990 |
| 2 bedrooms | $1,230 | $1,107 – $1,353 | $1,474 | $1,090 |
| 3 bedrooms | $1,710 | $1,539 – $1,881 | $2,041 | $1,530 |
| 4 bedrooms | $2,060 | $1,854 – $2,266 | $2,464 | $1,830 |
A household renting a two-bedroom home at the Small Area FMR of $1,230 needs about $49,200 a year to keep housing costs at 30% of income. The area median family income is $97,600 and the 80% low-income limit for four people is $78,100. ZIP code 32435 lies mainly in Walton County. See the Walton County, FL county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 32435?
HUD's FY2027 Small Area Fair Market Rents for 32435 are $960 (studio), $1,120 (1 BR), $1,230 (2 BR), $1,710 (3 BR) and $2,060 (4 BR) a month.
What is the Section 8 payment standard in 32435?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 32435 that range is $1,107 to $1,353 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 32435?
The FY2026 income limits of the Walton County, FL area apply: median family income $97,600, low-income (80%) limit $78,100 for a family of four.