Location: Washington County, FL | Metro: Washington County, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,140 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
In ZIP code 32463, there are several potential pitfalls for landlords considering Section 8 investments. Firstly, the tenant turnover rate can be a significant concern when comparing the market rent to the $970 Fair Market Rent (FMR) for fiscal year 2026. If market rents are higher, tenants might seek better deals outside the program, leading to frequent changes in occupancy. Secondly, the vacancy exposure is notable due to the lack of data on days on market (DOM), which could indicate periods where units remain unoccupied, reducing revenue. Lastly, the deferred maintenance exposure is a critical issue given the limited data on typical home values and a median income of $64,643. Lower incomes might mean less financial capacity for tenants to cover maintenance costs, placing the burden on landlords.
However, these risks must be weighed against the high renter density in the area, represented by a 25.0% renter share. This statistic suggests that there is a robust demand for rental properties, which often translates into a higher interest in Section 8 vouchers. The presence of many renters generally indicates a steady pool of potential voucher holders, mitigating some of the risks associated with tenant turnover and vacancy.
Despite the uncertainties, the high concentration of renters in ZIP 32463 provides a solid foundation for maintaining occupancy levels. However, the financial constraints faced by residents due to the median income level necessitate careful management to avoid deferred maintenance issues.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.