Location: Jacksonville, FL | Metro: Jacksonville, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,510 |
| 1 Bedroom | $1,530 |
| 2 Bedrooms | $1,830 |
| 3 Bedrooms | $2,270 |
| 4 Bedrooms | $2,870 |
| 5 Bedrooms | $3,329 |
| 6 Bedrooms | $3,728 |
| 7 Bedrooms | $4,026 |
| 8 Bedrooms | $4,227 |
U.S. Census Bureau data (2024)
The ZIP code 32079 is situated in a small, tightly-knit neighborhood characterized by its overwhelmingly rental-based housing market. With a total population of just 419 residents, the area stands out due to its unique statistic of being 100.0% renters. This indicates a community where homeownership is virtually non-existent, making it an ideal setting for landlords and small-portfolio investors focused on rental properties.
The median income in this ZIP code is reported at $41,094, which places it squarely in the middle-income bracket. Given the lack of median home value data, it's evident that the focus here is on renting rather than owning. The Fair Market Rent (FMR) for ZIP 32079 in fiscal year 2024 is set at $2,200, while the Census ACS reports the market rent at $1,837. This discrepancy suggests that there might be opportunities for landlords to either increase their rents closer to the FMR or to offer slightly below-market rates to attract tenants who are seeking affordable housing options.
Considering the hands-off versus hands-on investment approach, ZIP 32079 leans more towards being suitable for a hands-off voucher operator. The high percentage of renters and the alignment of market rents with the FMR indicate a stable environment for those looking to manage a portfolio with minimal tenant turnover and maintenance concerns. However, for a hands-on value-add buyer, there are still potential opportunities to improve property values and rental rates by enhancing the quality of existing units or developing new ones that cater to the needs of this predominantly rental-focused community.
Data Sources: FMR data from HUD (2027). 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.