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 | $1,000 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,220 | $135,903 | 0.9% | C |
| 3BR | $1,510 | $197,942 | 0.76% | D |
| 4BR | $1,620 | $250,622 | 0.65% | D |
U.S. Census Bureau data (2024)
The ZIP code 32310 in Tallahassee, FL, stands out due to its unique demographic and economic characteristics. With a population of 14,888 residents, it has a rental rate of 47.2%, indicating a significant portion of the community prefers leasing over homeownership. The median income here is $38,288, which is notably lower than the national average, while the median home value of $177,694 suggests that owning a property remains relatively affordable compared to other metropolitan areas.
Moving into the specifics of voucher economics, the Fair Market Rent (FMR) for ZIP 32310 in fiscal year 2024 is set at $1,140. This figure contrasts sharply with the market rent, known as the ZORI (Zillow Observed Rental Index), which is $1,324. Landlords can leverage this gap to their advantage by ensuring that rents remain competitive yet within the bounds of the voucher program, thereby attracting tenants who benefit from the financial assistance provided by the government.
Given the data signature, ZIP 32310 appears to be in a stable phase. The balance between rental and ownership rates, along with the reasonable median home value, indicates a steady demand for both types of housing. Moreover, the disparity between the FMR and ZORI provides an opportunity for landlords to participate in the Section 8 program without sacrificing profitability. This stability is further reinforced by the consistent income levels and the ongoing need for affordable housing solutions in the area.
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.