Location: Jackson County, FL | Metro: Calhoun 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 | $770 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $970 | $126,628 | 0.77% | D |
| 3BR | $1,270 | $213,315 | 0.6% | F |
| 4BR | $1,280 | $278,593 | 0.46% | F |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP code 32448 in Marianna, FL, reveals a notable difference between the federal market rent (FMR) and the actual market rent. For a two-bedroom unit, the annualized FMR stands at $12,720 ($1,060 per month), while the market rent is lower at $10,272 ($856 per month).
To derive the gross yield, we compare these rental incomes against the median home value of $161,940. With the FMR, the implied gross yield is approximately 7.86%. In contrast, using the market rent, the gross yield drops to about 6.34%. These figures provide a clear snapshot of the potential income streams under each scenario.
Given the renter density of 32.1%, it's important to consider how this impacts the realism of the scenarios. The higher FMR might seem attractive, but the limited number of renters could pose challenges in maintaining consistent occupancy rates. On the other hand, the market rent, while offering a lower gross yield, aligns more closely with what tenants are actually paying, making it a more stable option for long-term investment.
The N/A-day DOM (days on market) indicates that there isn't sufficient data to determine the average time it takes to lease out properties, which can be a concern. However, with the lower renter density, it's reasonable to expect that the market rent scenario would likely result in better occupancy stability, even if the gross yield is less impressive compared to the FMR-based scenario.
In conclusion, while the FMR offers a higher gross yield of 7.86%, the market rent scenario with a gross yield of 6.34% appears more realistic given the local conditions. Landlords and small-portfolio investors should weigh these factors carefully when considering Section 8 participation in Marianna, FL.
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.