Section 8 Fair Market Rent (FMR) for ZIP 32214 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 32214, located in Florida, is characterized by a mix of residential and commercial properties, offering a diverse landscape for both living and investment opportunities. The area is known for its accessibility to key urban amenities while maintaining a suburban feel, making it attractive for various types of tenants.

• The Fair Market Rent (FMR) for a 2-bedroom apartment in ZIP 32214 for fiscal year 2024 is set at $1580. This figure represents the upper limit that low-income families should pay for housing to avoid being cost-burdened.
• Market rent data for ZIP 32214 is currently unavailable, which means that investors need to rely on other indicators such as the FMR to gauge potential rental yields.
• The median home value in the area is also not available, indicating that there might be limited data on single-family homes or that the area predominantly consists of apartments and condominiums.
• Renter share data is unavailable, but given the presence of a significant number of apartments and the area's appeal to young professionals and families, it is likely that a considerable portion of residents are renters.
• The Days on Market (DOM) for rentals is not available, suggesting that the local real estate market moves quickly once units become available, though this cannot be confirmed without specific data.
• The median household income for ZIP 32214 is not available, which makes it difficult to assess the economic stability and spending power of the local population.

In summary, ZIP 32214 presents a viable investment opportunity for landlords and small-portfolio investors, especially considering the Fair Market Rent for a 2-bedroom unit. However, the lack of comprehensive data on market rents, median home values, renter share, DOM, and median income poses challenges in fully evaluating the area's potential. Investors should conduct thorough research and consider consulting local real estate agents to fill these gaps and make informed decisions.

Data Sources: FMR data from HUD (2027).

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.