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 Federal Market Rent (FMR) for ZIP code 32241 in Unknown, Florida, stands at $1580 for fiscal year 2024, indicating a stable baseline for rental properties eligible under the Section 8 program. The absence of current market rent data suggests either a lack of recent activity or an incomplete dataset, which can be indicative of a market that is less dynamic or has fewer transactions recorded.
The N/A% price-cut share and N/A-day Days on Market (DOM) suggest that there isn't enough recent transactional data to provide a comprehensive view of how quickly properties are selling and whether discounts are being applied to attract buyers. This could imply a relatively steady state in terms of sales activity, but it's also possible that the market is simply not active enough to generate reliable trends.
A median home value marked as N/A further underscores the limited data available, making it difficult to assess the overall health of the housing market in ZIP 32241. However, the FMR figure alone provides insight into the rental market's affordability and potential demand for subsidized housing. Landlords should consider this fixed rate when setting their rental prices to ensure they remain competitive while meeting the needs of potential Section 8 tenants.
The N/A% renter share is critical for understanding the long-term housing pressure in the area. While we cannot determine the exact percentage of renters versus homeowners without specific data, the lack of this statistic can be interpreted as a sign of a mixed market. In areas where the renter share is known to be high, long-term housing pressure often manifests as a challenge for both landlords and small-portfolio investors due to the constant need for affordable units. Conversely, a low renter share might indicate a market with more owner-occupied homes, reducing the immediate pressure on rental properties.
In ZIP 32241, the dynamics are somewhat opaque due to the missing data points. Nevertheless, the stability of the FMR can be seen as a positive signal for landlords looking to maintain consistent income streams. The absence of current market rent data and other key metrics implies that the market may not be experiencing significant fluctuations, suggesting a balanced situation where neither supply nor demand clearly outpaces the other. This balance is crucial for small-portfolio investors who seek to minimize risk and maximize returns through strategic property management.
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.