Location: Baker County, FL | Metro: Baker County, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The ZIP code 32087, located within the Baker County, FL HUD Metro FMR Area, presents a unique profile when compared against typical ZIP codes in the same region. Its Fair Market Rent (FMR) for fiscal year 2024 stands at $910, which is notably lower than the median FMR for the county. The absence of market rent data suggests that this ZIP might be less developed or have fewer rental properties compared to other areas in the county.
The median home value in ZIP 32087 is $276,007. This figure is consistent with the overall median home values seen across Baker County, indicating that it is neither significantly above nor below the average for the area. However, the 5.7% share of renters is relatively low compared to what might be expected in a typical ZIP code within the county. This combination of a low FMR and a modest home value, coupled with a low renter share, suggests that 32087 could be a value pocket for both landlords and small-portfolio investors.
Typically, a higher renter share with below-average home values can indicate a potential sweet spot for Section 8 housing opportunities. However, ZIP 32087's characteristics diverge slightly from this pattern. Despite having a below-metro FMR, its home value is not particularly low, and the renter share is also on the lower side. This implies that while it may not be the most attractive area for Section 8 tenants due to the lower renter population, it still offers good value for those looking to invest in rental properties. The lower FMR means that landlords can potentially offer rents that align well with Section 8 payment standards without compromising on profit margins.
To summarize, ZIP 32087 appears to be a value pocket within the Baker County, FL HUD Metro FMR Area. It offers a fair market rent of $910, which is below the average for the county, making it suitable for landlords who want to operate within the guidelines of Section 8. While the home value is not exceptionally low, the combination of factors makes it a solid choice for investors seeking stable returns in a less competitive market segment.
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.