Location: Putnam County, FL | Metro: Putnam County, FL
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 | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $178,922 | 0.58% | F |
| 3BR | $1,310 | $237,352 | 0.55% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 32189, Satsuma, FL, on the yield and stability axes reveals a nuanced picture that leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market.
On the yield axis, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is projected at $1,000, while the local market rent stands at $682. The median home value is $198,189. This suggests that rental income is lower than the FMR, indicating a less aggressive yield compared to areas where rents match or exceed the FMR. However, the gap between the local market rent and the FMR implies potential for moderate growth if local rents increase towards the FMR.
Regarding stability, 32.3% of residents are renters, which is a significant portion but not unusually high. The lack of data on days on market (DOM) makes it difficult to assess how quickly properties turn over, which could impact stability. The median household income of $42,920 suggests that there is a reasonable level of financial stability among residents, though it is not exceptionally high. This income level supports consistent rent payments without being overly volatile.
To summarize, the relatively low rent compared to the FMR and the moderate median income indicate a market that offers stable cash flow rather than high-yield opportunities. Landlords and small-portfolio investors should expect steady returns with manageable risk in this ZIP code.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.