Location: Franklin County, FL | Metro: Wakulla County, 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 | $970 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $205,819 | 0.54% | F |
| 3BR | $1,420 | $321,476 | 0.44% | F |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP 32358 in Sopchoppy, FL, highlights several challenges that a first-time Section 8 landlord might face. Firstly, the potential for high tenant turnover is significant due to the difference between the market rent of $1,241 and the Fair Market Rent (FMR) of $1,080 for FY 2024. This discrepancy can lead to difficulties in attracting tenants who qualify for Section 8 vouchers, as the subsidy amount may not cover the higher market rent.
Vacancy exposure is another critical concern. The Days on Market (DOM) data is currently unavailable, which suggests that there may be limited insight into how quickly properties are rented in this area. This uncertainty can pose a risk for landlords who might face prolonged periods without rental income.
Deferred maintenance exposure is also noteworthy. With a typical home value of $276,922 and a median income of $75,179, homeowners in Sopchoppy might struggle to keep up with necessary repairs and maintenance. For landlords, this could translate into higher costs for maintaining properties to meet the standards required by the Section 8 program.
However, these risks must be weighed against the high renter share of 17.2%. High renter density typically indicates a greater demand for rental housing and a higher likelihood of finding tenants with Section 8 vouchers. This factor can mitigate some of the risks associated with vacancy and tenant turnover.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 32358 is moderate.
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.