Section 8 Fair Market Rent (FMR) for ZIP 32257 - 2027

Investment Score for ZIP 32257

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	$1,360
1 Bedroom	$1,380
2 Bedrooms	$1,650
3 Bedrooms	$2,020
4 Bedrooms	$2,530
5 Bedrooms	$2,935
6 Bedrooms	$3,287
7 Bedrooms	$3,550
8 Bedrooms	$3,728

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
2BR	$1,650	$193,031	0.85%	C
3BR	$2,020	$338,543	0.6%	F
4BR	$2,530	$452,806	0.56%	F
5BR	$2,935	$640,190	0.46%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 32257 (Jacksonville, FL) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 32257 in Jacksonville, FL, for the year 2026 is set at $1620 for a two-bedroom unit. This represents 25.7% of the median household income of $75,780 in the area. However, the actual rental market dynamics show that the Zillow median price for a two-bedroom home is $194,072, which translates into a monthly rent of approximately $1617 based on typical mortgage payments and property management costs. The FMR closely aligns with the actual rent for a two-bedroom unit, suggesting that voucher holders can find suitable housing options without significant difficulty. However, there are constraints for voucher holders. For instance, landlords are not obligated to accept Section 8 vouchers, and some may prefer higher-paying tenants. Additionally, the FMR for larger units such as three-bedroom ($2000) and four-bedroom ($2500) homes may be insufficient for covering the full rent, especially if the landlord requires a portion of the rent to be paid out-of-pocket by the tenant. This could limit the ability of voucher holders to secure larger living spaces, particularly if they have families. #### Affordability & Renter Profile ZIP code 32257 has a population of 42,904, with 42.8% being renters. This indicates a significant rental market presence, with nearly half of the residents relying on rental properties. The occupancy rate of 94.7% suggests that the rental market is quite tight, with few vacant units available. Given the median household income of $75,780, the FMR for a two-bedroom unit at $1620 represents a reasonable proportion of the average income, making it relatively affordable for most residents. Nevertheless, the high occupancy rate and the fact that the FMR for a two-bedroom unit is only slightly below the actual market rent indicate that the rental market is competitive. Voucher holders might face challenges in finding landlords who accept their vouchers, especially for larger units where the FMR is lower than the market rent. #### Investor Angle From an investor’s perspective, the ZIP code 32257 appears to be cash-flow positive at the FMR levels. The Zillow median price for a two-bedroom home is $194,072, and the FMR for such a unit is $1620. Given the typical price-to-rent ratio of 10.0x, the annual rent would be around $19,448. If we assume a conservative 5% annual appreciation rate, the value of the property would increase by about $9,703.50 per year. The FMR of $1620 for a two-bedroom unit is close to the actual market rent, indicating that investors can likely achieve positive cash flow by renting at or near the FMR. The investment grade for this ZIP code would be considered moderate to good, given the strong demand and relatively stable rental rates. However, investors should be aware that the acceptance of Section 8 vouchers by landlords can vary, potentially affecting the ability to fill units quickly. #### Specific Actionable Insights 1. **Focus on Two-Bedroom Units**: Given that the FMR for a two-bedroom unit is very close to the actual market rent, investors should focus on acquiring and managing two-bedroom properties. This will ensure that the units are both affordable for voucher holders and profitable for investors. The FMR of $1620 is a key figure to target, as it aligns well with the median income and market conditions. 2. **Prepare for Out-of-Pocket Costs**: For larger units like three-bedroom and four-bedroom homes, prepare for situations where voucher holders might need to pay additional rent out-of-pocket. The FMR for these units is $2000 and $2500 respectively, but the actual market rent could be higher. Investors should consider offering incentives or support to landlords who accept Section 8 vouchers to mitigate this issue. 3. **Engage with Local Landlords**: Since the rental market is tight and the occupancy rate is high, engaging with local landlords to understand their preferences regarding Section 8 vouchers is crucial. Building relationships and providing clear benefits to landlords, such as streamlined processes and reliable payment systems, can help ensure a steady stream of tenants. #### Bottom Line For Section 8-focused investors, the ZIP code 32257 presents a moderately positive investment opportunity. The alignment between FMR and actual market rents for two-bedroom units, combined with the high occupancy rate, suggests a robust demand for rental properties. However, the challenge lies in ensuring that landlords are willing to accept Section 8 vouchers, particularly for larger units. **Recommendation**: **Buy**. Investors should focus on acquiring two-bedroom units and engage proactively with landlords to facilitate the acceptance of Section 8 vouchers. This strategy will maximize the chances of achieving positive cash flow while meeting the needs of a significant portion of the local rental market.

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.