Location: Suwannee County, FL | Metro: Suwannee County, FL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,340 | $294,961 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 32060 encompasses a neighborhood with a population of 22,467 residents, where 18.8% of the inhabitants are renters. The median household income in this area stands at $57,510, while the median home value is $303,521. This paints a picture of a moderately sized community with a relatively small rental market compared to homeownership.
From an investment perspective, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,040. However, the current market rent, according to the Census ACS, is $846. This discrepancy between the FMR and the actual market rent suggests a potential opportunity for landlords and small-portfolio investors who can capitalize on the higher subsidy rates without significantly increasing their rental income above the market rate.
Given these conditions, ZIP 32060 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the area's stable median income and home values indicate a lower risk of default among tenants. On the other hand, value-add buyers could find opportunities to renovate properties and increase rents closer to the FMR, thereby benefiting from the higher subsidy rates. Both strategies can be effective, depending on the investor's goals and risk tolerance.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
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.