Location: Jacksonville, FL | Metro: Jacksonville, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,430 |
| 1 Bedroom | $1,450 |
| 2 Bedrooms | $1,730 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,650 |
| 5 Bedrooms | $3,074 |
| 6 Bedrooms | $3,443 |
| 7 Bedrooms | $3,718 |
| 8 Bedrooms | $3,904 |
To classify ZIP code 32050 in Unknown, FL, we must rely on the available data: the Fair Market Rent (FMR) for the fiscal year 2024 is set at $1670. This figure is critical for understanding the rental market's potential yield. However, the lack of specific market rent data and median home values means we cannot directly compare these against FMRs to gauge whether this is a high-yield area. Typically, if market rents exceed FMRs, it suggests higher yields; conversely, if they are lower, it implies lower yields.
Regarding stability, the absence of key metrics such as percentage of renters, days on market (DOM), and median income complicates the analysis. Stability is often assessed through these factors: a higher percentage of renters can indicate a stable demand for rental properties, shorter DOM periods suggest quicker turnover and less vacancy risk, and higher median incomes can point to a stronger ability among residents to pay rent consistently.
The current data only provides an FMR, which is useful but insufficient for a full classification. If we assume that the FMR accurately reflects the rental market conditions, then ZIP 32050 could be considered a moderate-stability zone due to the lack of data indicating otherwise. The FMR of $1670 sets a baseline for rental pricing, ensuring that properties are priced within a range that is affordable for tenants eligible for Section 8 assistance. However, without additional data on market rents and home values, we cannot definitively state the yield characteristics.
To conclude, ZIP 32050 appears to offer a moderate level of stability based on the FMR alone, suggesting that it is neither a high-yield/low-stability flip-style market nor a steady-cashflow zone. It falls somewhere in between, contingent upon the actual market conditions which are currently unknown. Landlords and small-portfolio investors should seek additional local market data before making investment decisions in this area.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.