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 economics of Section 8 in ZIP code 32239, located in Jacksonville, Florida, are straightforward. For a two-bedroom rental unit, the SAFMR (Small Area Fair Market Rent) for fiscal year 2024 is set at $1580. This figure is specific to this ZIP code, reflecting local housing costs.
Section 8 vouchers operate on a fixed reimbursement rate based on SAFMR. The reimbursement includes the tenant's contribution and utility allowances. Typically, the tenant contributes 30% of their adjusted income toward rent. If we assume an average adjusted income of $1200 per month for a tenant in this area, their contribution would be around $360.
The remaining amount is covered by the housing authority. Using the SAFMR of $1580, subtracting the tenant's contribution of $360 leaves $1220 for the housing authority to reimburse the landlord. However, landlords should also consider utility allowances, which can vary but are often around $150 to $200 per month. This brings the total reimbursement close to the SAFMR.
Given that the local market rent is currently not available, it's important to understand that the SAFMR is designed to reflect the median rent for the area. Therefore, landlords can expect to receive close to the SAFMR amount when all components are factored in.
To summarize, for a two-bedroom apartment in ZIP 32239, the landlord will receive $1580 per month, which includes the tenant's portion and any utility allowances. If the local market rent exceeds this amount, landlords will face a reimbursement gap. Conversely, if the local market rent is lower, landlords might experience a surplus. Without specific market rent data, landlords should use the SAFMR as a benchmark for their expectations.
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.