Location: Gainesville, FL | Metro: Gainesville, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
The analysis of ZIP code 32604, located within the Gainesville, FL HUD Metro FMR Area, reveals several key points that are essential for landlords and small-portfolio investors.
The first question concerns whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1410. However, due to the lack of specific market rent data, it's impossible to provide a direct comparison. This absence suggests that landlords should carefully consider local rental trends and adjust their pricing accordingly to ensure profitability.
Regarding the affordability of acquisitions, the data lacks specific figures on the median home value, days on market (DOM), and the percentage of homes that have experienced price cuts. Without these numbers, it's difficult to assess the cost and potential competition when acquiring properties. Investors should conduct thorough research to understand the current real estate market dynamics in the area.
The third question pertains to tenant demand. The data does not specify the population size or the percentage of residents who are renters. These missing details make it challenging to gauge the number of potential tenants and the strength of the rental market. Landlords must look into local demographics and housing patterns to determine if there is sufficient demand for rental properties.
In summary, while the Fair Market Rent for ZIP 32604 is established at $1410, the incomplete dataset hinders a comprehensive analysis of the market rent, median home values, and days on market. Additionally, the lack of population and renter share percentages complicates the assessment of tenant demand. For informed decision-making, landlords and small-portfolio investors should seek out detailed local market data to fill these gaps and make strategic investments.
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.