Location: Panama City, FL | Metro: Panama City, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,810 |
| 1 Bedroom | $1,940 |
| 2 Bedrooms | $2,110 |
| 3 Bedrooms | $2,690 |
| 4 Bedrooms | $3,280 |
| 5 Bedrooms | $3,805 |
| 6 Bedrooms | $4,262 |
| 7 Bedrooms | $4,603 |
| 8 Bedrooms | $4,833 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 32410 in fiscal year 2024 is set at $1890. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you'll receive; it's the payment standard used by the government to determine the maximum allowable rent subsidy.
In comparison, the average rent in ZIP 32410, based on Census ACS data, is $2,000. This means that the FMR is slightly below the market rate, which could impact your decision if you're considering a first-time Section 8 rental property in this area.
The demand for rental properties in ZIP 32410 is substantial, with 26.8% of households being renters. This high percentage indicates a robust market for rental units, including those eligible for Section 8 vouchers. However, since the acquisition cost is listed as N/A, it suggests that specific data on property purchase prices is unavailable. This might require additional research to understand the typical costs of buying a rental property in the area.
Before proceeding with a Section 8 rental in ZIP 32410, verify that your property meets all the necessary inspection criteria. The housing authority will conduct an inspection to ensure the property is up to their standards, which include safety, health, and habitability requirements. Failure to meet these criteria can result in denied tenancy, leading to wasted time and resources.
Data Sources: FMR data from HUD (2027). 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.