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 | $2,100 |
| 1 Bedroom | $2,130 |
| 2 Bedrooms | $2,540 |
| 3 Bedrooms | $3,110 |
| 4 Bedrooms | $3,890 |
| 5 Bedrooms | $4,512 |
| 6 Bedrooms | $5,053 |
| 7 Bedrooms | $5,457 |
| 8 Bedrooms | $5,730 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,540 | $293,336 | 0.87% | C |
| 3BR | $3,110 | $429,390 | 0.72% | D |
| 4BR | $3,890 | $578,290 | 0.67% | D |
| 5BR | $4,512 | $748,336 | 0.6% | D |
U.S. Census Bureau data (2024)
Saint Johns, ZIP code 32259, is a rapidly growing master-planned community in St. Johns County characterized by upscale suburban living and family-friendly amenities. Known for neighborhoods like Julington Creek Plantation, the area features extensive golf courses, nature trails, and highly rated public schools within the St. Johns County School District. The local economy benefits significantly from the presence of major regional employers, including the Flagler Hospital + St. Vincent’s HealthCare network, which anchors the healthcare sector and draws a stable workforce of medical professionals to the area.
From an investment standpoint, the math in this high-income suburb reveals a sharp deviation from typical Section 8 markets. The HUD SAFMR for a 2-bedroom unit sits at $2,410, which is actually $381 higher than the current market rent of $2,029. This creates a rare "premium gap" where the voucher payment exceeds standard market rates. Property values are steep, with a median home value of $541,874 and a specific median 2BR sale price of $289,455. However, turnover is slow, with homes sitting a median of 83 days on market before selling, indicating a tighter inventory that favors hold strategies over quick flips.
Demand is bolstered by an affluent resident base, boasting a median household income of $150,736, yet the renter share remains low at just 11.8%. This demographic composition suggests that any Section 8 tenants will likely be voucher holders tied to the stable employment of nearby institutions like Flagler Hospital or the school system. The neighborhood's reputation for safety and top-tier schools ensures consistent demand, though the scarcity of rental inventory means investors are competing primarily with owner-occupiers rather than other landlords.
The verdict for 32259 is clear: this is an appreciation and stability play rather than a volume cash-flow machine. The data shows a positive cash-flow potential of $381 per month for a 2-bedroom unit under the SAFMR compared to market rents, but the high entry cost of $541,874 for median homes pushes yields lower. Investors should target this ZIP for long-term wealth preservation and tax benefits, leveraging the premium voucher payments to supplement the appreciation of high-value assets in a top-rated school district.
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.