Section 8 Fair Market Rent (FMR) for ZIP 32513 - 2027
Location: Pensacola-Ferry Pass-Brent, FL | Metro: Pensacola-Ferry Pass-Brent, FL MSA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,130 |
| 1 Bedroom | $1,330 |
| 2 Bedrooms | $1,510 |
| 3 Bedrooms | $1,980 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
To determine if you should buy in ZIP code 32513 for Section 8, follow this decision tree:
- 1) Does the Fair Market Rent (FMR) of $1240 cover debt service?
- Yes: If the FMR of $1240 can cover the debt service on a property, proceed to the next question.
- No: If the FMR of $1240 does not cover the debt service, do not invest in this area.
- 2) Is the market rent above, at, or below the FMR?
- Above: If market rents are higher than the FMR, it indicates that Section 8 tenants may struggle to find housing outside of subsidized programs, which could be beneficial for landlords.
- At: If market rents are equal to the FMR, there is no premium for non-subsidized units, but the area still supports the FMR, making it a stable investment.
- Below: If market rents are lower than the FMR, it suggests that the area may be undervalued and could offer good deals on properties, though landlords might need to consider why market rents are below the FMR.
- 3) Do the percentage of renters and the days on market indicate sufficient demand?
- N/A% renters + N/A-day DOM: Due to missing data, it's unclear whether there is enough demand for rental properties. However, if you can ascertain that the percentage of renters is substantial and the days on market for rental listings are low, indicating quick turnover, then there is likely sufficient demand.
If you can answer 'Yes' to the first two questions and confirm that there is sufficient demand, then investing in ZIP 32513 for Section 8 properties is advisable. If any of these criteria are not met, reconsider your investment strategy in this area.
Data Sources: FMR data from HUD (2027).
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.