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 | $1,410 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,080 |
| 4 Bedrooms | $2,600 |
| 5 Bedrooms | $3,016 |
| 6 Bedrooms | $3,378 |
| 7 Bedrooms | $3,648 |
| 8 Bedrooms | $3,830 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,700 | $177,814 | 0.96% | C |
| 3BR | $2,080 | $265,296 | 0.78% | D |
| 4BR | $2,600 | $343,758 | 0.76% | D |
| 5BR | $3,016 | $407,435 | 0.74% | D |
U.S. Census Bureau data (2024)
Jacksonville’s 32218 ZIP code covers the Northside area, characterized by a mix of established suburban neighborhoods and expanding commercial corridors. The local economy benefits significantly from the presence of major employers like the Jacksonville International Airport, which serves as a primary anchor for employment and supports a steady stream of service-industry workers seeking nearby housing. This area is largely car-dependent, though it offers convenient access to Interstate 95, making it a practical location for commuters. Recent development activity has focused on enhancing retail and dining options along the main arteries, contributing to the neighborhood's gradual revitalization.
From a strictly numerical standpoint, investors face a tight spread in 32218. The HUD Fair Market Rent (FMR) for a 2-bedroom unit is $1,670, while the current market rent (ZORI) sits slightly higher at $1,717, creating a modest positive gap of just $47. Entry costs appear reasonable with a median home value of $294,275 and a specific median 2BR sale price of $176,111. However, turnover risk is present as the median days on market lingers at 72 days. Based on these figures, voucher tenants essentially meet market rates, meaning cash flow relies heavily on keeping acquisition costs near the $176,111 mark rather than commanding a premium above standard rents.
The tenant pool is stabilized by a renter share of 32.7% and a median household income of $69,638, indicating that a significant portion of the population can sustain housing payments without subsidy, yet voucher demand remains viable for those earning below the median. Families are often drawn to the area for access to particular educational institutions, including schools within the Duval County Public School system that serve the community. Additionally, the proximity to the airport and major logistics hubs provides a consistent base of potential tenants who prioritize location over ultra-luxury amenities.
The Section 8 verdict for 32218 leans toward stability and appreciation potential rather than aggressive immediate cash flow. The negligible gap between the $1,670 FMR and $1,717 market rent suggests that vouchers act more as a reliable income backstop than a premium tool. With median home values at $294,275 and a lower entry point for 2-bedroom units at $176,111, the strongest angle is buying below-median assets in a location anchored by a major economic engine. This strategy allows investors to benefit from long-term appreciation and consistent occupancy, provided they manage the 72-day days-on-market timeline effectively during turnovers.
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.