Section 8 Fair Market Rent (FMR) for ZIP 32266 - 2027

Location: Jacksonville, FL | Metro: Jacksonville, FL HUD Metro FMR Area

Investment Score for ZIP 32266

Monthly Rent (2BR)

$1,850

Median Price (2BR)

$470,670

1% Rule

0.39%

Annual Yield

4.72%

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	$1,530
1 Bedroom	$1,550
2 Bedrooms	$1,850
3 Bedrooms	$2,270
4 Bedrooms	$2,830
5 Bedrooms	$3,283
6 Bedrooms	$3,677
7 Bedrooms	$3,971
8 Bedrooms	$4,170

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	$1,850	$470,670	0.39%	F
3BR	$2,270	$744,009	0.31%	F
4BR	$2,830	$973,497	0.29%	F
5BR	$3,283	$1,499,167	0.22%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

7,168

Median Household Income

$119,294

Housing Units

3,709

Renter Percentage

26.9%

Occupancy Rate

87.1%

Renter Occupied

870

Neptune Beach, FL, located in ZIP code 32266, is a desirable coastal community known for its pristine beaches and affluent residents. This area offers significant opportunities for real estate investment, particularly for those interested in rental properties.

The Fair Market Rent (FMR) for Neptune Beach, FL, for the fiscal year 2024 is set at $1,870, indicating the government's benchmark for affordable housing.
The market rent, as measured by Zillow's ZORI index, stands at $2,600, reflecting the average rental price for a typical single-family home in the area.
The median home value in Neptune Beach is $771,733, which is indicative of the high-end real estate market in this affluent zip code.
Renters make up 26.9% of the population, suggesting a moderate demand for rental properties.
The median household income in the area is $119,294, pointing to a robust economic base that supports higher rental rates and property values.

Given these data points, Neptune Beach presents a balanced market for real estate investors. The gap between the Fair Market Rent and the actual market rent suggests potential for above-average returns on investment in rental properties. However, the relatively low percentage of renters compared to homeowners means that there is limited growth potential for the rental market. Investors should focus on properties that can command the higher end of the rental spectrum, given the area's affluence, while also being prepared for competition from owner-occupied homes. The strong median income supports the ability of residents to pay higher rents, making it a viable location for those looking to enter the rental market with quality, well-priced properties.

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.