Section 8 Fair Market Rent (FMR) for ZIP 32406 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 32406 in Florida presents a dynamic rental market, particularly under the lens of Section 8 programs. The Fair Market Rent (FMR) for this area, as set by HUD for fiscal year 2024, stands at $1520. This figure is crucial for understanding the rental landscape, as it indicates the maximum amount that voucher holders can pay toward their housing costs.

A notable absence in the data is the market rent, which is listed as N/A. This could imply that either there isn't enough recent data to determine an accurate market rent figure, or the market is experiencing fluctuations that make such a figure difficult to pin down. However, the fact that the FMR is established suggests a level of stability in the government's assessment of what constitutes a fair rent in the area.

The percentage of price-cut share and the days on market (DOM) are also marked as N/A. These omissions make it challenging to assess whether the supply of rental units outpaces demand or vice versa. Typically, a high DOM would indicate a surplus of supply relative to demand, while a low DOM would suggest the opposite. The lack of this information means we cannot draw definitive conclusions about the balance between supply and demand in 32406.

The median home value is also unspecified, which might indicate a mixed market with both high-value and low-value properties. This ambiguity can be seen as a sign of diversity in the housing stock but also complicates efforts to gauge overall market health and trends.

The N/A% renter share statistic is critical for understanding long-term housing pressures. A higher renter share generally correlates with increased long-term housing pressure, as it reflects a larger proportion of residents who are renters rather than homeowners. In areas with a significant renter population, landlords and small-portfolio investors must remain vigilant about maintaining competitive pricing and property conditions to attract and retain tenants.

In summary, ZIP 32406 appears to be a market characterized by known government standards in rental pricing, but with many unknowns regarding its current dynamics. Investors should focus on the established FMR and be prepared for a potentially volatile market due to the lack of detailed recent data.

Data Sources: FMR data from HUD (2027).

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.