Location: Tallahassee, FL | Metro: Tallahassee, 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 | $1,250 |
| 1 Bedroom | $1,330 |
| 2 Bedrooms | $1,500 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,330 | $153,025 | 0.87% | C |
| 2BR | $1,500 | $181,087 | 0.83% | C |
| 3BR | $1,840 | $248,480 | 0.74% | D |
| 4BR | $1,970 | $311,471 | 0.63% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 32301, located in Tallahassee, Florida, Leon County, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code is set at $1400 per month for the fiscal year 2024. This figure represents the maximum amount the government will pay for a rental unit under the Section 8 program in this area.
Comparatively, the local market rent for a similar two-bedroom property is slightly higher at $1,452, as indicated by the ZORI (Zillow Observed Rental Index). For landlords, it's crucial to understand how the voucher system works to determine if participating in Section 8 is financially viable.
A Section 8 voucher covers the difference between the tenant's portion and the SAFMR. The tenant's portion is typically 30% of their adjusted income. For example, if a tenant has an adjusted monthly income of $1,000, they would be responsible for paying $300 towards rent. The remaining amount up to the SAFMR of $1400 is covered by the voucher. In this scenario, the government would pay $1100.
Utility allowances also play a role in the reimbursement process. These allowances vary but generally cover a portion of the tenant's utility expenses. If the utility allowance is $200, the total reimbursement a landlord can expect from the government for a two-bedroom apartment is $1300 ($1100 for rent and $200 for utilities).
This means that for a two-bedroom apartment priced at the SAFMR of $1400, the landlord would receive $100 less than the market rate, creating a $52 shortfall compared to the local market rent of $1,452. Conversely, if the landlord sets the rent at the local market rate of $1,452, they would receive $152 more than the SAFMR, but this would exceed the maximum allowable rent under the Section 8 program, making it ineligible.
In summary, the typical reimbursement gap for a two-bedroom apartment in ZIP 32301 is $52, meaning landlords would need to either accept a slightly lower rent than the market rate or risk being over the SAFMR limit set by the government. This gap must be considered when deciding whether to participate in the Section 8 program.
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.