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 | $1,480 |
| 1 Bedroom | $1,500 |
| 2 Bedrooms | $1,790 |
| 3 Bedrooms | $2,190 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,790 | $310,234 | 0.58% | F |
| 3BR | $2,190 | $471,344 | 0.46% | F |
| 4BR | $2,740 | $911,507 | 0.3% | F |
| 5BR | $3,178 | $2,159,034 | 0.15% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 32233 in Jacksonville, FL, reveals several key points for landlords and small-portfolio investors. First, the rent math does not align perfectly with the Federal Market Rent (FMR) and the market rent. The FMR for the area is set at $1710 for fiscal year 2024, while the market rent, as indicated by ZORI, stands at $1,760. This suggests that landlords could potentially receive slightly higher rents than what is subsidized under Section 8, but the difference is minimal.
Regarding the affordability of acquisitions, the median home value in ZIP 32233 is $486,903. With no available data on days on market (DOM) and a negligible 0.2% of homes experiencing price cuts, it indicates that the housing market is stable and possibly not highly competitive for buyers. However, the high median home value implies that acquiring properties may be costly, especially when considering the typical budget constraints faced by small-portfolio investors.
Tenant demand is strong in ZIP 32233. With a total population of 24,633 and a significant 39.8% of residents being renters, there is a substantial pool of potential tenants. This high renter share suggests that landlords can expect a steady stream of applicants for their Section 8 units, reducing the risk of vacancy.
In summary, while the rent math shows a slight discrepancy between the FMR and market rates, it remains favorable for landlords. Acquisition costs are high due to the median home value, which might pose a challenge for investors with limited capital. Despite these challenges, the strong tenant demand makes ZIP 32233 an attractive investment location for those willing to navigate the higher property prices. Landlords can confidently expect a robust rental market with many interested tenants, ensuring the viability of their Section 8 properties.
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.