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 | $1,010 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,760 | $225,743 | 0.78% | D |
U.S. Census Bureau data (2024)
The ZIP code 32535 in Century, FL, is classified as a steady-cashflow zone for landlords and small-portfolio investors. The key figures driving this classification are the following:
The Fair Market Rent (FMR) for FY 2024 is set at $1060, which is notably higher than the market rent of $754. This indicates a relatively high yield potential, as properties can command rents above the typical market rate. However, the median home value of $138,200 suggests that the overall property values are lower compared to the previously mentioned $201,943, indicating a mixed yield scenario.
Stability is assessed through the percentage of renters, median days on market (DOM), and median household income. In ZIP 32535, 32.3% of residents are renters, which is a moderate figure. Unfortunately, the median days on market is not available, but the median household income stands at $38,618. This income level is relatively low, which could impact the ability of tenants to consistently pay higher rents. Despite this, the high FMR suggests that there is a demand for affordable housing in the area, which can support steady cash flow if managed effectively.
To summarize, ZIP 32535 offers a moderate yield opportunity due to the higher-than-market FMR, but the stability is somewhat compromised by the low median income levels. It is not a high-yield/low-stability flip-style market, nor is it a highly stable cash-flow zone. Instead, it falls somewhere in between, requiring careful management and tenant selection to maintain consistent cash flow.
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.