Location: Pensacola-Ferry Pass-Brent, FL | Metro: Pensacola-Ferry Pass-Brent, FL MSA
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 | $1,180 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $2,080 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,390 | $185,748 | 0.75% | D |
| 2BR | $1,580 | $295,625 | 0.53% | F |
| 3BR | $2,080 | $366,902 | 0.57% | F |
U.S. Census Bureau data (2024)
1230 is the Fair Market Rent (FMR) for ZIP 32502 in Pensacola, FL, for fiscal year 2024. This figure sets the benchmark for rental properties seeking to participate in the Section 8 program. In contrast, the market rent, known as ZORI, stands at 1976, indicating a significant gap between what the government deems fair and the actual market rates. The median home value in this area is 338318, reflecting a modest residential real estate market. With 40.0% of the population being renters, there's a notable demand for affordable housing options. The median income of 67207 suggests that many residents might struggle to afford market rents without assistance. Despite this, the day DOM (days on market) is listed as N/A, which could imply a steady turnover or lack of comprehensive data. However, the price-cut share of 0.2% indicates that very few listings are reducing their prices to attract tenants, suggesting a relatively stable market. For landlords and small-portfolio investors considering Section 8 participation, these numbers paint a picture of an area where government subsidies can significantly impact profitability. The verdict on Section 8 in ZIP 32502 is positive, given the high renter share and the substantial difference between FMR and ZORI.
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.