Location: Pensacola-Ferry Pass-Brent, FL | Metro: Crestview-Fort Walton Beach-Destin, FL HUD Metro FMR Area
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 | $1,400 |
| 1 Bedroom | $1,680 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,580 |
| 4 Bedrooms | $3,140 |
| 5 Bedrooms | $3,642 |
| 6 Bedrooms | $4,079 |
| 7 Bedrooms | $4,405 |
| 8 Bedrooms | $4,625 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,880 | $220,978 | 0.85% | C |
| 3BR | $2,580 | $319,689 | 0.81% | C |
| 4BR | $3,140 | $390,580 | 0.8% | C |
| 5BR | $3,642 | $667,235 | 0.55% | F |
U.S. Census Bureau data (2024)
Mary Esther, Florida, located in Okaloosa County, has a population of 12,063 residents, with 29.3% of them renting their homes. The median income in this ZIP code is $77,718, while the median home value stands at $319,490. These figures indicate a relatively modest rental market compared to the overall housing market, suggesting that homeownership is more prevalent.
The economic landscape for Section 8 vouchers in Mary Esther is favorable for landlords. The Fair Market Rent (FMR) for ZIP 32569 for fiscal year 2024 is set at $1,410, which is significantly lower than the market rent, measured by the Zillow Rent Index (ZORI), at $2,132. This means that landlords can potentially benefit from a higher rent differential when accepting Section 8 tenants, as the market rent exceeds the government-subsidized amount.
The data signature for ZIP 32569 suggests a stable environment for real estate investment. With a moderate rental rate and a higher median income, the area is likely to attract both renters and buyers who are financially capable of meeting their obligations. Additionally, the lower FMR compared to the ZORI provides a strong incentive for landlords to participate in the Section 8 program, knowing they can still achieve a decent profit margin over the subsidized rate.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.