Location: Pensacola-Ferry Pass-Brent, FL | Metro: Pensacola-Ferry Pass-Brent, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $2,150 |
| 5 Bedrooms | $2,494 |
| 6 Bedrooms | $2,793 |
| 7 Bedrooms | $3,016 |
| 8 Bedrooms | $3,167 |
U.S. Census Bureau data (2024)
15.4% of Cantonment, FL's residents are renters, indicating a moderate reliance on rental properties. The Fair Market Rent (FMR) for ZIP code 32533 in fiscal year 2024 is set at $1220, which represents the maximum amount Section 8 vouchers will cover for a unit. This figure contrasts with the Zillow Observed Rental Index (ZORI), which stands at $1,750, reflecting the actual market rent for similar units. Landlords and small-portfolio investors should note that the difference between these two rates—$530 per month—suggests potential profit margins when considering Section 8 participation.
$325,700 is the median home value in Cantonment, suggesting a relatively stable housing market. However, the median household income of $86,087 indicates that a significant portion of residents may rely on assistance programs like Section 8 to afford housing. The Days on Market (DOM) statistic of 43 days shows that properties are typically listed for sale for about a month and a half before they're sold, indicating a brisk pace in the real estate market.
With only 0.3% of listings experiencing price cuts, it's evident that the market is robust and that homes are generally valued correctly upon listing. This low rate of price adjustments also signals confidence among sellers, who likely believe their properties will sell at the asking price without the need for reductions.
In summary, the data from ZIP 32533 reveals a strong local real estate market where the gap between FMR and market rents presents opportunities for landlords. Given the moderate renter share and the healthy median income levels, Section 8 participation can be a viable strategy for landlords looking to ensure steady tenancy while maintaining profitability. Cantonment, FL is a good candidate for Section 8 investments.
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.