Location: Jackson County, FL | Metro: Jackson 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 | $790 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,460 | $216,280 | 0.68% | D |
U.S. Census Bureau data (2024)
To classify ZIP code 32423 on the axes of yield and stability, we must consider several factors including the Fair Market Rent (FMR), home values, percentage of renters, and average income levels.
The FMR for the metro area in fiscal year 2026 is $1,260. This figure represents the expected rent that a landlord can charge for a property in this region. Given the home value of $181,554 in ZIP 32423, the potential rental yield can be calculated. However, the lack of specific market rent data complicates a direct comparison, suggesting reliance on the FMR as a benchmark for rental pricing.
The stability of the market is assessed through the percentage of renters at 9.8%, which indicates a relatively low proportion of the population renting versus owning. Without a specific Days on Market (DOM) figure, it's challenging to gauge how quickly properties are turning over, but the lower renter percentage could imply slower turnover rates. The median household income in the area is $46,591, which provides insight into the financial capacity of potential tenants.
Considering these metrics, ZIP 32423 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The key figures driving this assessment include the relatively low percentage of renters (9.8%) and the moderate income level ($46,591). These suggest a stable tenant base with a reasonable ability to pay rent, though not at the highest possible rate. The absence of high market volatility, indicated by the lack of rapid property turnover (N/A DOM), further supports this classification.
A steady-cashflow zone typically offers reliable income streams with less risk of sudden changes in occupancy or rent prices. While the yield is not exceptionally high due to the lower renter percentage, it still provides a solid return based on the FMR and home value. For landlords and small-portfolio investors, this ZIP code presents an opportunity for consistent, predictable cash flow without the speculative risks associated with flipping properties.
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.