Location: Jacksonville, FL | Metro: Jacksonville, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,370 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,540 |
| 5 Bedrooms | $2,946 |
| 6 Bedrooms | $3,300 |
| 7 Bedrooms | $3,564 |
| 8 Bedrooms | $3,742 |
The analysis of ZIP code 32235 in Jacksonville, Florida, reveals several key points regarding its suitability for Section 8 real-estate investment.
Firstly, the rent math does not work in favor of Section 8 properties. The Fair Market Rent (FMR) for the area is set at $1580 for fiscal year 2024. However, the absence of specific market rent data makes it impossible to determine if this figure aligns with what tenants can afford or what landlords can realistically expect to earn outside of the Section 8 program. This lack of clarity is a significant drawback for potential investors.
Secondly, the acquisition cost of properties in ZIP 32235 is not clearly affordable based on the available data. With no specific median home value provided, investors cannot gauge how much they might spend on acquiring a property. Additionally, the lack of information on days on market (DOM) and the percentage of homes that required price cuts further complicates the decision-making process regarding the affordability of property acquisition.
Lastly, there is evidence of tenant demand in the area. Although the exact population and percentage of renters are not specified, the presence of a Fair Market Rent suggests that there is a need for affordable housing, which could translate into a steady stream of tenants willing to participate in the Section 8 program.
Verdict: While ZIP 32235 shows signs of tenant demand, the lack of critical financial data—such as market rent, median home values, and specifics on the housing market dynamics—renders the investment opportunity unclear. Landlords and small-portfolio investors should seek additional, precise data before making any decisions regarding Section 8 properties in this area. The current information is insufficient to make a confident assessment of the viability of such investments.
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.