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 | $1,300 |
| 1 Bedroom | $1,320 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,320 | $150,654 | 0.88% | C |
| 2BR | $1,570 | $203,675 | 0.77% | D |
| 3BR | $1,920 | $280,038 | 0.69% | D |
| 4BR | $2,400 | $466,290 | 0.51% | F |
| 5BR | $2,784 | $1,242,515 | 0.22% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 32207, located in Jacksonville, FL, does not work favorably for landlords. The Fair Market Rent (FMR) set at $1440 for FY 2024 is below the current market rent, known as the Zillow Observed Rent Index (ZORI), which stands at $1,509. This discrepancy suggests that landlords might struggle to cover their costs if they adhere strictly to the FMR guidelines.
Acquisition in this area is moderately affordable. The median home value is listed at $275,235. However, the lack of data on days on market (DOM) and the low percentage of homes needing price cuts (0.2%) indicate that the housing market is stable but not particularly active, making it less likely for significant deals to arise.
Tenant demand is strong in ZIP 32207. With a total population of 36,998, nearly half (49.4%) are renters. This high proportion of renters suggests a robust pool of potential tenants, which can be beneficial for maintaining occupancy rates and minimizing vacancy periods.
In summary, while the acquisition cost is reasonable and tenant demand is robust, the rent math does not favor landlords due to the lower FMR compared to the ZORI. Landlords should consider adjusting their expectations or seeking additional sources of income to ensure profitability. Despite these challenges, the high renter share makes it an attractive area for those willing to navigate the financial constraints imposed by government-set rental standards.
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.