Location: Taylor 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 | $990 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,510 | $281,571 | 0.54% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 32331 in fiscal year 2024 is set at $1060. In contrast, the market rent is estimated at $903, creating a positive spread of $157 per unit. This spread ensures that landlords receive a higher monthly rent through the Section 8 program compared to the market rate, thus providing a stable and predictable cash flow.
The median home value in ZIP 32331 is $218,370. This relatively low value means that properties can be acquired at a reasonable cost, making it easier to achieve a good return on investment. With the guaranteed rent from the Section 8 program, landlords can cover their mortgage payments and maintenance costs while still generating a modest profit.
While ZIP 32331 does not present significant opportunities for appreciation, given the N/A% price-cut share and N/A-day days on market (DOM), it remains a solid choice for maintaining consistent cash flow. The 13.8% renter share indicates a moderate demand for rental properties, and the median income of $50,905 suggests that there is a sufficient number of eligible tenants who can benefit from the Section 8 program.
In conclusion, ZIP 32331 serves as a reliable cash-flow anchor due to the favorable spread between the FMR and market rent, the affordable median home value, and the presence of a moderate renter base. This makes it an attractive addition to a diversified Section 8 portfolio strategy.
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.