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 | $1,730 |
| 1 Bedroom | $1,750 |
| 2 Bedrooms | $2,090 |
| 3 Bedrooms | $2,560 |
| 4 Bedrooms | $3,200 |
| 5 Bedrooms | $3,712 |
| 6 Bedrooms | $4,157 |
| 7 Bedrooms | $4,490 |
| 8 Bedrooms | $4,715 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,750 | $147,746 | 1.18% | B |
| 2BR | $2,090 | $188,105 | 1.11% | B |
| 3BR | $2,560 | $307,253 | 0.83% | C |
| 4BR | $3,200 | $451,409 | 0.71% | D |
| 5BR | $3,712 | $632,429 | 0.59% | F |
U.S. Census Bureau data (2024)
Jacksonville’s 32246 zip code, situated in the Southside area, is characterized by established suburban neighborhoods, extensive retail corridors, and a high volume of multi-family developments. This sector is a major employment hub, hosting the corporate campus of Fortune 500 company Fidelity National Financial, which provides a stable economic base for the region. The area is known for its convenient access to major highways like the J. Turner Butler Boulevard, facilitating commutes across the city, and offers a mix of mid-century housing and newer apartment complexes.
From an investment standpoint, the Section 8 metrics in 32246 present a distinct mathematical advantage. The HUD Fair Market Rent (FMR) for a 2-bedroom unit is $2,050, significantly outpacing the current market rent of $1,646, creating a potential premium of $404 per month for voucher holders. While median home values sit at $310,909 and the typical 2BR sells for $189,327, the 70-day median days on market indicates moderate sales velocity. Investors should note the FY2024 SAFMR is $1,870, but the full FY2026 ladder pushes the 2BR FMR higher to $2,050.
With a renter share of 45.3% and a median household income of $80,963, the tenant pool is substantial yet relatively affluent compared to other voucher-eligible markets. This income level suggests that even residents earning below the median may have stable employment, reducing default risks. Families are drawn to the area for its educational options, including the highly-rated public schools in the Duval County district, as well as proximity to the St. Johns Town Center for shopping and dining. These amenities help sustain demand, even as inventory lingers on the market for over two months on average.
The verdict for 32246 is clear: aggressive cashflow is the primary play. The $404 spread between the FY2026 FMR and current market rent allows investors to achieve above-market yields while minimizing vacancy loss through the Housing Choice Voucher program. Although the median home value is high relative to the 2BR sale price, the ability to guarantee rent above market rates makes this zip code a target for acquiring income-producing assets.
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.