Section 8 Fair Market Rent (FMR) for ZIP 32256 - 2027

Investment Score for ZIP 32256

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,700
1 Bedroom	$1,720
2 Bedrooms	$2,050
3 Bedrooms	$2,510
4 Bedrooms	$3,140
5 Bedrooms	$3,642
6 Bedrooms	$4,079
7 Bedrooms	$4,405
8 Bedrooms	$4,625

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,720	$128,081	1.34%	A
2BR	$2,050	$190,680	1.08%	B
3BR	$2,510	$304,672	0.82%	C
4BR	$3,140	$582,898	0.54%	F
5BR	$3,642	$755,237	0.48%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 32256 (Jacksonville, FL) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 32256, as per the 2026 figures, is set at $2000 for a two-bedroom unit. This FMR represents 32.6% of the median household income of $73,570, indicating that it is within a reasonable range for affordability based on local incomes. However, the actual rent for a two-bedroom unit can be significantly higher due to the price-to-FMR ratio being 8.0x. This means that the average rent for a two-bedroom unit is approximately $16,000 annually, which is well above the FMR. For voucher holders, this creates a significant constraint, as they may struggle to find units that accept their vouchers and fall within the FMR limits. #### Affordability & Renter Profile ZIP code 32256 has a high renter population percentage of 61.3%, suggesting a strong demand for rental properties. The occupancy rate of 92.5% further supports this notion, indicating that there is little vacancy and the market is relatively tight. Given the median household income of $73,570, many residents may find it challenging to afford housing, especially when considering the high price-to-FMR ratio. The median Zillow price for a two-bedroom home is $192,734, which is beyond the reach of most renters in this area. Therefore, the majority of residents are likely to be low- to moderate-income individuals who rely heavily on affordable rental options. #### Investor Angle From an investor perspective, the FMR for a two-bedroom unit is $2000, which is significantly lower than the actual average rent of $16,000 annually. This suggests that the market is overpriced relative to the FMR, making it difficult for Section 8 voucher holders to find suitable housing. However, if an investor focuses on properties that are priced at or below the FMR, they could potentially achieve cash flow positivity. The key challenge would be finding properties that are willing to accept Section 8 vouchers, given the high rent prices in the area. The investment grade for this ZIP code would be considered medium to low, primarily due to the difficulty in finding properties that are both affordable and willing to accept vouchers. Additionally, the high price-to-FMR ratio indicates that the market is not aligned with the federal guidelines for affordable housing, which could pose risks for long-term investment stability. #### Specific Actionable Insights 1. **Focus on Affordable Units**: Investors should target properties that are priced at or below the FMR of $2000 for a two-bedroom unit. This will ensure that they can attract Section 8 voucher holders and maintain cash flow positivity. 2. **Negotiate with Landlords**: Given the high price-to-FMR ratio, landlords may be reluctant to accept vouchers. Investors should consider negotiating with landlords to offer incentives such as property management services or maintenance guarantees to encourage acceptance of Section 8 vouchers. 3. **Utilize Local Programs**: Explore local government programs or initiatives that provide additional subsidies or incentives for landlords who accept Section 8 vouchers. These programs can help mitigate the financial impact of accepting vouchers and make the investment more attractive. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 32256 is to **Skip**. The high price-to-FMR ratio and the limited availability of properties that accept vouchers make this a challenging market. While there is potential for cash flow positivity by focusing on affordable units, the overall market dynamics suggest that the risk outweighs the reward. Investors might want to look into other ZIP codes with better alignment between actual rents and FMRs, or those with stronger local support for affordable housing initiatives.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.