Location: Liberty County, FL | Metro: Franklin County, FL
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 | $930 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $153,563 | 0.7% | D |
| 3BR | $1,410 | $265,153 | 0.53% | F |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for the Liberty County, FL metro area in fiscal year 2026 is set at $1,090. In contrast, the market rent for ZIP 32321, as per the Census ACS, is $928. This indicates that voucher tenants will generate positive cash flow for landlords, even when renting at the market rate, given the gap between the HUD FMR and actual market rates.
The median home value in ZIP 32321 is $200,862. Using this figure, we can derive a rent-to-price ratio, which stands at approximately 0.46%. This ratio suggests that rental income is relatively low compared to property values, but it still supports a positive cash flow scenario for Section 8 landlords.
Regarding the dynamics of the rental versus buying market, the data available does not provide specific median Days on Market (DOM) or the percentage of price cuts for ZIP 32321. However, the lack of significant price cuts and short DOM periods typically indicate a stable real estate market where properties sell close to asking price without much negotiation.
The strongest investment angle for Section 8 landlords in ZIP 32321 is cash flow, due to the disparity between the HUD FMR and the current market rent, ensuring landlords receive higher rents than what they might otherwise collect from market-rate tenants.
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.