Location: Gulf County, FL | Metro: Panama City, FL HUD Metro FMR Area
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 | $1,320 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,720 |
| 3 Bedrooms | $2,070 |
| 4 Bedrooms | $2,430 |
| 5 Bedrooms | $2,819 |
| 6 Bedrooms | $3,157 |
| 7 Bedrooms | $3,410 |
| 8 Bedrooms | $3,581 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,340 | $285,360 | 0.47% | F |
| 2BR | $1,720 | $371,174 | 0.46% | F |
| 3BR | $2,070 | $470,466 | 0.44% | F |
| 4BR | $2,430 | $610,823 | 0.4% | F |
| 5BR | $2,819 | $1,299,977 | 0.22% | F |
U.S. Census Bureau data (2024)
17.9% of the residents in ZIP code 32456, Port Saint Joe, FL, are renters, indicating a modest demand for rental properties in the area. The $1,484 market rent (ZORI) suggests that landlords can expect to charge this amount per month for their units, aligning closely with the economic realities of the local housing market. However, the $1650 Fair Market Rent (FMR) for zip FY 2024 offers a slightly higher benchmark for rental pricing, especially when considering government-subsidized programs like Section 8. With a median home value of $473,768, the cost of entry into the real estate market here is relatively high, but it also reflects the potential for significant property appreciation over time. Landlords should be aware that the median income of $64,681 might limit the pool of potential tenants who can afford market rates, particularly those who do not qualify for assistance programs.
The average Days on Market (DOM) of 116 days indicates that selling properties in this area can take some time, suggesting a need for patience and possibly strategic pricing adjustments. This is further supported by the 0.2% price-cut share, which implies that while some sellers may need to reduce their asking prices, it is a rare occurrence and usually not by a significant margin. For investors looking to leverage Section 8, the $1650 FMR provides a clear guideline for setting rental prices that will attract subsidized tenants, ensuring steady cash flow even if the local economy experiences fluctuations.
Given these figures, the Section 8 program presents a viable option for landlords and small-portfolio investors in Port Saint Joe, FL, offering a stable source of income with minimal risk of vacancy.
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.