Location: Madison County, FL | Metro: Madison 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 | $820 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,310 | $332,136 | 0.39% | F |
U.S. Census Bureau data (2024)
The ZIP code 32350 is situated in a neighborhood characterized by a modest population size of 1,295 residents. This area is primarily owner-occupied, with only 18.9% of the population renting their homes. The median household income here stands at $35,625, indicating a middle-class community where many families can afford homeownership. The median home value in this ZIP code is $276,708, which reflects the local real estate market's pricing dynamics.
Turning to the rental economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,070. However, there is no specific data available for market rents within ZIP 32350 itself, suggesting that the rental market here might be less active compared to other areas. The lack of detailed market rent data could imply that rental properties are either scarce or not widely advertised, making it challenging to gauge the exact demand for rentals.
Given these characteristics, ZIP 32350 would likely appeal more to a hands-off voucher operator rather than a hands-on value-add buyer. The relatively low percentage of renters and the absence of precise market rent data indicate a limited rental market, which means that opportunities for significant rental income growth through renovations or management improvements are minimal. A hands-off approach using Section 8 vouchers can still provide steady income without the need for extensive property management efforts, given the existing infrastructure and the moderate cost of living reflected in the median income and home values.
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.