Location: Jacksonville, FL | Metro: Jacksonville, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,780 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,150 |
| 3 Bedrooms | $2,640 |
| 4 Bedrooms | $3,290 |
| 5 Bedrooms | $3,816 |
| 6 Bedrooms | $4,274 |
| 7 Bedrooms | $4,616 |
| 8 Bedrooms | $4,847 |
U.S. Census Bureau data (2024)
The ZIP code 32228 is primarily characterized by its significant number of renters, though specific percentages and median household income figures are currently unavailable. This suggests a strong potential for a robust Section 8 tenant pool, contingent upon the actual rental rates and the availability of vouchers.
To understand the depth of voucher demand, it's essential to compare the typical market rent with the Federal Market Rent (FMR) of $2400 for FY 2024. Without exact market rent data, we can infer that if the local rents are below this figure, there will be higher utilization of vouchers, making it an attractive area for landlords who accept them.
Income levels play a crucial role in determining the feasibility of renting in this area. If the median household income were available, it would provide insight into how much of the local income is typically spent on rent. Generally, when rent consumes a larger portion of income, the reliance on vouchers increases, indicating a higher density of Section 8 tenants.
Landlords in ZIP 32228 should anticipate a tenant pool that heavily relies on housing vouchers due to the likely high cost of living relative to income. This expectation is based on the assumption that many residents need financial assistance to cover their housing costs, given the absence of homeownership data.
To conclude, while specific percentages and income figures are missing, the indication of a renter-heavy environment suggests a substantial presence of Section 8 tenants. Landlords must prepare for a tenant base that requires housing assistance, aligning their properties with the eligibility criteria for vouchers to maximize occupancy and stability.
Data Sources: FMR data from HUD (2027). 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.