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 | $1,440 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,130 |
| 4 Bedrooms | $2,660 |
| 5 Bedrooms | $3,086 |
| 6 Bedrooms | $3,456 |
| 7 Bedrooms | $3,732 |
| 8 Bedrooms | $3,919 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,740 | $153,697 | 1.13% | B |
| 3BR | $2,130 | $248,819 | 0.86% | C |
| 4BR | $2,660 | $302,971 | 0.88% | C |
| 5BR | $3,086 | $370,834 | 0.83% | C |
U.S. Census Bureau data (2024)
Jacksonville’s 32244 ZIP code represents a balanced suburban landscape on the city’s Westside, characterized by established single-family neighborhoods and convenient commercial corridors. This area is largely defined by its proximity to major retail hubs along Argyle Forest Boulevard and serving as a residential feeder for significant local employers, notably the large Naval Air Station Jacksonville located just to the east. The neighborhood vibe is practical and family-oriented, offering a mix of 1960s-era ranch homes and newer developments, making it a familiar territory for investors seeking stable, working-class tenancy rather than high-gloss luxury.
From a strictly numerical standpoint, the 32244 market presents a clear arbitrage opportunity for voucher holders. The HUD Fair Market Rent (FMR) for a 2-bedroom unit stands at $1,710, which comfortably exceeds the current market rent of $1,631, creating a positive gap of $79 per month or $948 annually. While acquisition costs are moderate with a median home value of $252,905, investors should note the median days on market sits at 70 days, suggesting a sales cycle that requires patience. For those utilizing the $154,302 median 2BR sale price, the potential yield is evident, provided the property can command the full FMR.
Demand drivers in this locale are anchored by a solid renter share of 43.7% and a median household income of $62,204, indicating that while the area is not affluent, it possesses a steady economic base capable of sustaining rental payments. The neighborhood’s appeal is bolstered by access to standard suburban amenities and public schools that generally perform at or above district averages, reinforcing the draw for families needing larger 3- or 4-bedroom units. This demographic profile suggests a consistent pool of applicants who may qualify for Housing Choice Vouchers but are also gainfully employed, reducing the risk of prolonged vacancies.
The Section 8 verdict for 32244 leans heavily toward immediate cash flow and stability. With the 2BR FMR surpassing Zillow’s market estimate, voucher rates effectively price-protect the landlord against minor softening in the broader Jacksonville market. The strongest investor angle here is acquiring median-priced 3- or 4-bedroom assets to maximize the spread against the $2,110 and $2,640 FMRs, capitalizing on the high renter share to secure long-term, government-backed tenants in a proven residential hub.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.