Location: Gainesville, FL | Metro: Gainesville, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
U.S. Census Bureau data (2024)
100.0% of the residents in ZIP code 32616 are renters, which makes it an ideal market for landlords and small-portfolio investors looking to capitalize on high demand for rental properties. The Fair Market Rent (FMR) for the area, set at $1440 for zip FY 2024, provides a benchmark for rental pricing that aligns with government standards. This figure is particularly significant for Section 8 housing vouchers, ensuring that landlords receive a fair payment for their units without overpricing. Given the lack of available data on market rent, median home value, median income, days on market (DOM), and the percentage of price-cut share, the FMR becomes even more crucial for setting realistic expectations. Landlords should be aware that the absence of these metrics might indicate a less active real estate market, but the high renter share suggests a steady demand for affordable housing. For investors considering Section 8 participation, the $1440 FMR offers a reliable guideline for property valuation and rental income projections. It ensures that properties remain accessible to tenants while providing landlords with consistent, government-backed payments. In conclusion, ZIP 32616 presents a strong case for Section 8 investment, given the high renter share and the clear FMR guidance.
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.