Location: Tallahassee, 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 | $1,120 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,640 | $200,889 | 0.82% | C |
U.S. Census Bureau data (2024)
The classification of ZIP code 32352 hinges on the interplay between rental yields and market stability. With a Fair Market Rent (FMR) of $1,060 for the fiscal year 2024, compared to a market rent of $1,100, landlords can expect a modest yield from their investments. However, the median home value of $205,361 suggests that there is a significant capital investment required for property ownership in this area.
On the stability axis, ZIP 32352 presents a mixed picture. The area has a relatively low percentage of renters at 26.0%, which might imply a less stable rental market due to a smaller pool of potential tenants. Additionally, the average household income stands at $42,500, which could indicate a lower capacity among residents to afford higher rents, potentially affecting long-term occupancy rates.
Given these metrics, ZIP 32352 does not fit neatly into either a high-yield/low-stability 'flip-style' market or a steady-cashflow zone. Instead, it appears to be an area where yields are reasonable but not exceptionally high, and stability is somewhat compromised by the limited number of renters and moderate income levels. Landlords should carefully consider the balance between rental income and property value before investing in this ZIP code.
To illustrate, the FMR of $1,060 is just below the market rent of $1,100, indicating a slight premium for market-rate rentals. Yet, the low percentage of renters and the average income level suggest that maintaining consistent occupancy could be challenging. This scenario points towards a market where steady cash flow is achievable but requires attentive management and possibly some flexibility in pricing to attract and retain tenants.
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.