Location: Jacksonville, FL | Metro: Jacksonville, 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 | $1,780 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,150 |
| 3 Bedrooms | $2,640 |
| 4 Bedrooms | $3,290 |
| 5 Bedrooms | $3,816 |
| 6 Bedrooms | $4,274 |
| 7 Bedrooms | $4,616 |
| 8 Bedrooms | $4,847 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,150 | $269,733 | 0.8% | D |
| 3BR | $2,640 | $412,143 | 0.64% | D |
| 4BR | $3,290 | $570,650 | 0.58% | F |
| 5BR | $3,816 | $754,215 | 0.51% | F |
U.S. Census Bureau data (2024)
1620 is the Fair Market Rent (FMR) for ZIP 32095 in Saint Augustine, FL, for fiscal year 2024. This figure represents the maximum amount landlords can charge for a two-bedroom apartment under the Section 8 program. In comparison, the market rent (ZORI) stands at 2147, indicating a significant gap between what the government subsidizes and what the market demands. The median home value in this area is 501174, which suggests a moderate housing market that is neither overly inflated nor undervalued. Renter share is 8.0%, showing that a relatively small portion of residents are renters, which could impact the demand for rental properties. Median income in the region is 136038, providing insight into the financial stability of potential tenants. Landlords should note that the average days on market (DOM) is 67, meaning it takes about two months to find a tenant, which can affect cash flow. Lastly, the price-cut share is 0.3%, indicating that very few landlords need to reduce their asking prices to attract tenants. Given these figures, landlords and small-portfolio investors should be cautious but optimistic about the potential returns in Saint Augustine, especially considering the disparity between FMR and ZORI. However, the demand for rentals is somewhat limited, as indicated by the low renter share and higher market rent. For those interested in Section 8 properties, the verdict is positive, provided they are prepared for a slightly longer leasing process.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.