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 | $1,120 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,360 | $170,185 | 0.8% | D |
| 3BR | $1,670 | $242,681 | 0.69% | D |
| 4BR | $2,080 | $303,127 | 0.69% | D |
| 5BR | $2,413 | $370,671 | 0.65% | D |
U.S. Census Bureau data (2024)
The rent math in ZIP 32211 (Jacksonville, FL) does not work in favor of Section 8 tenants. The Fair Market Rent (FMR) set by HUD for the fiscal year 2024 is $1370, whereas the market rent, as indicated by ZORI, is $1,402. This means that landlords would be receiving less than the market rate if they participate in the Section 8 program.
Acquisition in this area is relatively affordable, with a median home value of $243,020. However, the lack of data on days on market (DOM) and the low 0.3% price-cut share suggest that homes are selling quickly at or near their asking price. This indicates a robust real estate market where properties may not be discounted, making it challenging to find deals below market value.
Tenant demand is strong in ZIP 32211. With a population of 36,762 and 44.3% of residents being renters, there is a significant pool of potential tenants looking for housing. This high renter share supports the idea that rental properties can be filled relatively easily, assuming the location and property meet the criteria of the local market.
In summary, while there is a substantial demand for rental properties in ZIP 32211, the rent math does not favor Section 8 participation due to the lower FMR compared to the market rent. Home acquisition is affordable but not likely to be discounted, which could impact the profitability of investment properties under Section 8. Despite these challenges, the high number of renters in the area suggests that well-managed properties can still attract tenants and provide steady returns for investors willing to accept slightly lower rents.
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.