Location: Baker County, FL | Metro: Baker County, FL HUD Metro FMR Area
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 | $1,070 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,790 | $295,743 | 0.61% | D |
| 4BR | $1,980 | $358,613 | 0.55% | F |
U.S. Census Bureau data (2024)
The ZIP code 32063 is home to a population of 14,611 individuals, with 17.7% of them being renters. The median household income in this area stands at $75,683. This suggests that while there is a notable presence of renters, it is not a renter-heavy ZIP code with deep voucher demand. Instead, it leans towards being an area where homeownership is more prevalent, and therefore, vouchers might be less common among the tenant pool.
Considering the median market rent of $1,385, this represents approximately 18.3% of the local median income. This percentage is calculated by dividing the median rent by the median income ($1,385 / $75,683 * 100), indicating that typical rent consumes a significant portion of the average household's income but remains below the threshold often considered unaffordable, which is typically around 30%.
Comparing the median market rent to the Fair Market Rent (FMR) of $1,120 (for FY 2024), we see that the actual market rent exceeds the FMR by about $265. This means that landlords in ZIP 32063 may find it challenging to attract tenants who rely solely on Section 8 vouchers, as the vouchers might not cover the full cost of renting properties at market rates.
A landlord in this ZIP code should expect a mix of tenants, including those who might require some form of assistance but also have access to additional income sources. Tenants will likely be middle-income earners who can afford market rents but may still benefit from housing assistance programs. Landlords may need to consider offering competitive pricing or other incentives to attract and retain tenants who use vouchers.
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.