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 | $1,150 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,390 | $144,234 | 0.96% | C |
| 3BR | $1,700 | $303,050 | 0.56% | F |
| 4BR | $2,130 | $470,483 | 0.45% | F |
| 5BR | $2,471 | $774,427 | 0.32% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 32217, located within the Jacksonville, FL, Duval County HUD Metro FMR Area, reveals a favorable environment for rental properties. The HUD Fair Market Rent (FMR) for the area is set at $1330 for the fiscal year 2024. In comparison, the Zillow Observed Rent Index (ZORI), which reflects the actual market rent, stands at $1,298. This indicates that voucher tenants will generally cashflow positively at the HUD FMR rate, providing a buffer of $32 per unit above the market average.
To further understand the investment potential, consider the median home value of $308,448. Using the HUD FMR of $1330, we can derive a rent-to-price ratio of approximately 0.49%, suggesting that rental income is relatively low compared to the property values. However, this ratio also implies that there is significant equity in the homes, which can be leveraged for long-term investment strategies.
The data shows an N/A-day median Days on Market (DOM) and a 0.3% price-cut share, indicating that the market is stable and there is little need for significant price adjustments. This stability is crucial for investors looking to avoid volatile markets where property values and rents can fluctuate unpredictably.
The strongest investor angle in this market is cashflow. Given that the HUD FMR exceeds the ZORI, investors can expect steady positive cashflow from voucher tenants without needing to rely on premium units to achieve profitability. This makes ZIP 32217 an attractive location for those prioritizing consistent rental income over other investment factors such as rapid appreciation or speculative gains.
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.