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 | $1,290 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $1,960 |
| 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 |
|---|---|---|---|---|
| 2BR | $1,540 | $147,244 | 1.05% | B |
| 3BR | $1,960 | $248,352 | 0.79% | D |
U.S. Census Bureau data (2024)
Wewahitchka, FL, located in Gulf County, has a unique profile among ZIP codes. With a population of 8,069, it stands out due to its relatively low percentage of renters at 21.1%. The median income here is $54,538, and the median home value is $202,098, indicating a modest but comfortable living standard for homeowners.
The rental market dynamics in Wewahitchka are significantly influenced by the Section 8 program. The Fair Market Rent (FMR) for the area is set at $1,520 for fiscal year 2024, while the actual market rent averages $827 according to the Census Bureau's American Community Survey. This disparity highlights the potential economic impact of Section 8 vouchers on local landlords and property owners. Landlords participating in the program can expect higher rental rates compared to the local market, which could offset some of the administrative burdens associated with the voucher system.
The data signature for ZIP 32465 reads as stable. The low percentage of renters suggests that there is a strong homeownership culture, which can contribute to a steady community foundation. Additionally, the median income and home values indicate a consistent economic environment where residents can afford their homes without significant financial strain. While the Section 8 program provides a valuable service to low-income families, the gap between the FMR and the actual market rent underscores the importance of understanding the local rental landscape before making investment decisions. For small-portfolio investors, the potential for higher returns through the Section 8 program must be weighed against the overall stability of the local housing market.
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.