Location: Suwannee County, FL | Metro: Columbia County, FL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
ZIP 32094, located in Suwannee County, FL, presents itself as a diversifier within a Section 8 portfolio strategy. The median home value in this ZIP code is $181,300, which is slightly below the national average. This makes it an ideal location for landlords looking to expand their investment beyond high-cost metropolitan areas.
The median income of $64,271 in ZIP 32094 provides a stable tenant base. With a 21.0% renter share, there is a significant portion of the population relying on rental properties, making it a suitable area for landlords to consider. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is $1,120, while the current market rent stands at $837. This creates a spread of $283 per unit, which can be leveraged to ensure positive cash flow when managing properties under the Section 8 program.
ZIP 32094 does not present itself as an immediate appreciation play due to the lack of specific data regarding price-cut shares and days on market (DOM). However, the potential for long-term appreciation remains, given the steady growth in the housing market in Florida over recent years.
In conclusion, ZIP 32094 should be considered as a diversifier within a Section 8 portfolio. It offers a good balance between manageable property values and stable tenant incomes, ensuring a reliable source of rental income. The spread between the FMR and market rent allows for positive cash flow management, making it an attractive option for landlords and small-portfolio investors.
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.