Location: Jacksonville, FL | Metro: Jacksonville, FL HUD Metro FMR Area
| 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 |
The rent math in ZIP code 32260, located within the Jacksonville, FL HUD Metro FMR Area, does not align favorably due to the lack of available market rent data. The Fair Market Rent (FMR) for the area stands at $1930 for zip FY 2024. Without specific market rent figures, it's challenging to determine if rental properties can be priced competitively while still ensuring profitability.
Regarding acquisition affordability, the analysis is hampered by the absence of key metrics such as median home values, days on market (DOM), and the percentage of homes that have been discounted. These figures would provide insight into whether it is cost-effective to purchase properties in this area for conversion into rental units.
Tenant demand remains uncertain without concrete population numbers and the percentage of residents who are renters. These data points are crucial for gauging the potential occupancy rates and overall viability of rental investments in the area.
Verdict: Investment in ZIP 32260 under the Section 8 program is fraught with uncertainty due to missing critical data points. Specifically, the lack of current market rent, median home value, DOM, price-cut share, and tenant demographic information makes it difficult to assess both the financial feasibility and demand for rental properties. Until these gaps are filled, landlords and small-portfolio investors should proceed with caution and consider seeking additional local market intelligence before committing to acquisitions in this area.
Data Sources: FMR data from HUD (2027).
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.