Location: Franklin 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 | $1,100 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,250 | $274,236 | 0.46% | F |
| 3BR | $1,640 | $334,329 | 0.49% | F |
| 4BR | $1,640 | $515,307 | 0.32% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 32322, Florida, is characterized by a median home value of $282,190. This figure provides a baseline for understanding the local housing market. The fact that only 0.2% of listings have been reduced indicates strong seller pricing power. Listings reductions are often a sign of weakening demand or an oversupply of homes, but at such a low percentage, it suggests that most sellers are maintaining their asking prices, indicating confidence in the market's ability to support current valuations.
The median days on market (DOM) being not available could imply that homes are selling quickly, another indicator of robust buyer demand. However, without specific DOM data, we cannot definitively conclude the speed at which properties are moving. Despite this gap, the combination of stable home values and minimal price reductions points toward a balanced market with potential for gradual appreciation rather than significant fluctuations.
Moving to the rental side, the Fair Market Rent (FMR) for the metro area is projected at $1,240 for fiscal year 2026, while current market rents stand at $1,409 according to the Census ACS. This gap suggests that there is room for rental rates to decrease slightly towards the FMR, but the current market rents indicate a healthy demand for rental properties. Landlords and small-portfolio investors should anticipate modest downward pressure on rental prices, aligning with the FMR trend, but the overall rental environment remains favorable.
For long-term investors, the setup in ZIP 32322 implies a realistic appreciation thesis. With home values holding steady and minimal reductions, coupled with a strong rental market, there is a foundation for gradual property value growth. The rental income will likely remain competitive, supporting both cash flow and long-term asset appreciation. However, the absence of significant upward pressure on home values and the slight gap between current market rents and FMRs suggest that investors should set conservative expectations for future gains, focusing on consistent, moderate growth rather than rapid appreciation.
Landlords and small-portfolio investors should consider these factors when evaluating their investment strategies. The stable home values and healthy rental market provide a solid base for long-term investments, with the potential for steady appreciation and rental income. However, the setup also implies a need for patience and a focus on sustainable returns rather than speculative gains.
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.