Location: Wakulla County, 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 | $1,050 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,120 | $191,355 | 0.59% | F |
| 2BR | $1,260 | $191,935 | 0.66% | D |
| 3BR | $1,510 | $271,124 | 0.56% | F |
| 4BR | $1,660 | $385,648 | 0.43% | F |
| 5BR | $1,926 | $415,594 | 0.46% | F |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP 32327, which includes Crawfordville, FL, in the Wakulla County County, Wakulla County, FL HUD Metro FMR Area, is set at $1170 for fiscal year 2024. This figure represents the maximum amount that voucher holders can pay towards their monthly rent. In contrast, the market rent as measured by ZORI (Zillow's Observed Rental Index) stands at $1,658. This discrepancy suggests that voucher tenants will generally cashflow marginally in this area, meaning they might struggle to cover the difference between the FMR and the market rent without additional subsidies.
To further analyze the investment potential, consider the median home value in ZIP 32327, which is $287,320. The rent-to-price ratio can be calculated by dividing the annual market rent ($19,896) by the median home value. This yields a ratio of approximately 6.93%, indicating that rental income would be modest relative to property values. However, this metric alone does not provide a complete picture of the investment landscape.
The rental market in ZIP 32327 shows a median Days on Market (DOM) of 40 days, suggesting a relatively quick turnover rate for rental properties. Additionally, the price-cut share stands at 0.3%, implying that rental prices are stable and that landlords are unlikely to need to reduce rents significantly to attract tenants. These factors indicate a strong rental demand, which could be beneficial for landlords and small-portfolio investors.
In terms of the housing market, the median DOM and price-cut share suggest stability. A 40-day median DOM indicates that rental listings do not typically stay on the market for long periods, and a low price-cut share implies that rental prices are holding steady. For investors looking to capitalize on these conditions, the strongest angle is likely stability, given the consistent demand and limited fluctuation in rental prices.
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.