Location: Gainesville, FL | Metro: Levy County, 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 | $1,070 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $191,869 | 0.7% | D |
| 3BR | $1,690 | $325,941 | 0.52% | F |
| 4BR | $1,780 | $495,967 | 0.36% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 32618, Archer, FL, stands at $54,585. This figure provides context for understanding how residents might afford the market rate rent of $1,355, according to the Census Bureau's American Community Survey (ACS).
To put this into perspective, a household earning the median income would dedicate approximately 24.8% of their annual earnings to cover the market rate rent. This calculation is based on the assumption that a household spends no more than 30% of its income on housing, which is a common benchmark used by financial advisors and government agencies.
In contrast, the Fair Market Rent (FMR) for the area, set at $1,060, represents a more affordable option for renters. At this rate, the average household would spend around 19.4% of their income on rent, which is significantly lower than the market rate percentage and closer to the recommended housing expenditure ratio.
The affordability gap between the market rate and the FMR is substantial. For landlords, this means there is a competitive landscape where properties priced at the market rate may struggle to attract tenants who are limited by the voucher payment standard. The ZIP code has a relatively low rental rate at 20.6%, indicating that a significant portion of residents may be homeowners or have other living arrangements. With a total population of 7,057, the number of potential voucher tenants is even smaller, making competition for these units particularly fierce among landlords willing to accept vouchers.
The takeaway for landlords considering voucher versus cash-pay strategies is clear. While accepting vouchers can limit rental income to $1,060, it ensures a steady stream of tenants in an area where many households cannot afford the higher market rate. Landlords should weigh the benefits of guaranteed occupancy against the lower income from vouchers. In ZIP 32618, the strategy of accepting vouchers could be a key factor in maintaining a successful and stable property portfolio.
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.