Location: Putnam County, FL | Metro: Putnam County, FL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
To understand the economics of Section 8 in ZIP code 32187, it's essential to know the subsidy rates and how they compare to the local rental market. For a two-bedroom apartment in this ZIP code, the SAFMR (Small Area Fair Market Rent) for FY 2026 is set at $1,140. This figure represents the maximum amount that a Section 8 housing voucher can cover for rent.
The SAFMR is specifically tailored to reflect the rental market conditions of ZIP code 32187, ensuring that the subsidy rates match the local rental costs more accurately than a broader metro or county-level rate would. However, the local market rent for 2BR units is currently unavailable, which makes it difficult to provide a direct comparison between the SAFMR and the actual rents being charged in the area.
A landlord participating in the Section 8 program receives a monthly payment from the housing authority to cover part of the rent. This payment is calculated based on the SAFMR minus the tenant's portion, which is typically 30% of their adjusted income. Additionally, there are utility allowances that vary but are usually around $300 per month for a two-bedroom unit, depending on the local energy costs and the housing authority's policies.
Let's walk through an example. Suppose a tenant's adjusted income is $2,000 per month. Their portion of the rent would be 30%, or $600. If the utility allowance for ZIP 32187 is $300, then the total subsidy amount for a 2BR unit would be $1,140. Therefore, the housing authority would pay the landlord $840 ($1,140 - $300) to cover the remaining rent after the tenant's contribution and the utility allowance.
In ZIP 32187, the typical reimbursement gap or surplus for a two-bedroom unit is determined by comparing the SAFMR of $1,140 to the actual rent charged. Since the local market rent is not available, we cannot calculate the exact gap or surplus. However, if the actual rent is higher than $1,140, the landlord will have to negotiate with the tenant to cover the difference. Conversely, if the rent is lower, the landlord will receive the full SAFMR amount, leading to a surplus.
Landlords should also be aware that the SAFMR applies uniformly within ZIP code 32187, meaning that all properties in this area are subject to the same maximum rent subsidy regardless of location within the ZIP code. This uniformity helps ensure fair treatment of all participants in the program.
In conclusion, while the SAFMR provides a clear benchmark for the maximum subsidy a landlord can expect for a two-bedroom unit in ZIP 32187, the lack of specific local market rent data prevents a precise calculation of the reimbursement gap or surplus. Landlords must evaluate their own rent levels against the SAFMR to determine their financial position in the Section 8 program.
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.