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 | $274,875 | 0.64% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 32568 within the Pensacola-Ferry Pass-Brent, FL MSA reveals key insights for landlords and small-portfolio investors. First, let's examine if the rent math works. The Fair Market Rent (FMR) for ZIP 32568 in fiscal year 2024 is set at $1060. This figure is slightly below the market rent of $1,075 based on Census ACS data. Given that the FMR is designed to cover the majority of rental costs within the area, it suggests that landlords will need to rely on additional income sources or cost-saving measures to maintain profitability.
Moving on to the affordability of acquisition, the median home value in ZIP 32568 stands at $290,883. Unfortunately, the data regarding the number of days on the market (DOM) and the percentage of homes that required a price cut before selling is not available. However, the median home value provides a baseline for understanding the investment cost. For landlords looking to purchase properties in this ZIP code, the median home value indicates a significant upfront capital requirement, which must be weighed against potential rental income and appreciation.
To assess tenant demand, we look at the population and the proportion of renters. ZIP 32568 has a total population of 3,324, with 8.0% of residents being renters. This relatively low renter share might indicate a smaller pool of potential tenants, which could impact occupancy rates and the ease of finding suitable tenants.
In conclusion, while the rent math in ZIP 32568 is nearly balanced, with only a slight discrepancy between the FMR and market rent, the acquisition cost is high, with a median home value of $290,883. The limited data on DOM and price-cut percentages makes it difficult to fully assess the market dynamics for property sales. Additionally, the small renter share of 8.0% implies a modest tenant demand, which could pose challenges for maintaining steady occupancy. Therefore, landlords and small-portfolio investors should proceed with caution, ensuring they have a solid strategy for managing costs and attracting tenants in this 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.