Location: Liberty County, FL | Metro: Liberty 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 | $870 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,340 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,340 | $247,128 | 0.54% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 32334 in Liberty County, Florida, reveals several key points that landlords and small-portfolio investors should consider before entering the market.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,020. However, the current market rent based on Census ACS data stands at $972. This indicates that the rent set by the FMR is slightly higher than what the market can currently bear, suggesting a potential challenge in achieving full occupancy without adjusting rents to market levels.
Moving on to the affordability of acquisitions, the median home value in ZIP 32334 is $191,415. Unfortunately, the data on the number of days on the market (DOM) and the percentage of homes that required price cuts is not available. This lack of information makes it difficult to assess how quickly properties can be sold and if there is a need to reduce asking prices to facilitate sales. Despite this, the median home value suggests that property acquisition costs are relatively low compared to other areas, which could be attractive for investors looking to enter a less expensive market.
Regarding tenant demand, the ZIP code has a population of 2,012, with 23.8% of residents being renters. This means that approximately 479 individuals are potential tenants. Given the size of the population, the number of potential renters is modest but still significant enough to support a few rental units. It's important to note that the success of rental properties will depend on the ability to attract these renters, possibly through competitive pricing and amenities.
In conclusion, while the rent math does not fully align with market conditions, the low median home value offers an affordable entry point for acquisitions. The presence of 479 potential renters provides a reasonable tenant base, though the competition for tenants might be tight due to the limited overall population. Investors must carefully consider these factors and potentially adjust their strategies to ensure profitability and occupancy rates. The market presents opportunities but also requires a keen understanding of local dynamics and careful management to succeed.
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.