Location: Jackson County, FL | Metro: Jackson County, FL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP code 32432 is challenging due to incomplete data. However, using the annualized Fair Market Rent (FMR) for a 2-bedroom unit at $1,070 (for FY 2026), we can derive some insights.
The median home value in ZIP 32432 is currently not available. This lack of information makes it difficult to calculate an exact cap rate, which would typically be derived from the Net Operating Income (NOI) over the property value. Without the median home value, we cannot provide a precise gross yield for the market rent scenario.
In the case where the market rent is not applicable (N/A), the only available figure is the Section 8 FMR of $1,070 per month for a 2-bedroom unit. This translates to an annual rental income of $12,840. If we hypothetically assume a median home value for this area, say $200,000, the implied gross yield would be 6.42%. This is calculated by dividing the annual rental income ($12,840) by the assumed median home value ($200,000).
Given the 0.0% renter density in ZIP 32432, it is evident that the market for rental properties, including those under Section 8, is sparse. The Days on Market (DOM) is also not available, which further complicates the analysis. A low renter density suggests that finding tenants, even through Section 8, could be challenging. Therefore, the scenario based on the Section 8 FMR is more realistic.
The sparse rental market and lack of data on market rents indicate that landlords and small-portfolio investors should focus on the guaranteed rental income from Section 8 rather than speculative market rates. While the gross yield of 6.42% might seem modest compared to other investment opportunities, it offers a stable and predictable income stream, which is valuable in a low-density rental environment.
To summarize, the Section 8 cap-rate picture for ZIP 32432 is best understood through the lens of the FMR at $1,070 per month, implying a gross yield of 6.42% based on a hypothetical median home value. The absence of market rent data and the low renter density make the FMR scenario the most practical consideration for potential investments.
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.