Location: Bradford County, FL | Metro: Gainesville, 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 | $1,040 |
| 1 Bedroom | $1,130 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,690 | $295,746 | 0.57% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 32622 are straightforward. For a two-bedroom rental unit, the SAFMR (Small Area Fair Market Rent) is set at $1340 for fiscal year 2024. This SAFMR specifically applies to this ZIP code, ensuring it reflects the local rental market conditions accurately.
Local market rents, according to the Census ACS, are significantly lower at $839 for a two-bedroom apartment. This discrepancy means that landlords participating in the Section 8 program can expect a higher reimbursement rate compared to the average local rent.
A landlord's reimbursement under a Section 8 voucher includes the tenant's portion of the rent plus utility allowances. The tenant is responsible for paying approximately 30% of their adjusted income towards rent. Utility allowances vary but generally cover the cost of utilities not included in the base rent. For instance, if a tenant's income is $2000 per month, they would pay $600 toward the rent, leaving the remainder to be covered by the government voucher.
In ZIP 32622, the typical reimbursement scenario for a two-bedroom unit would be as follows:
This means that for a two-bedroom unit, the total reimbursement would be $1340. However, if the market rent is only $839, the landlord would receive a surplus of $501 above the market rate. Conversely, if the landlord charges more than the SAFMR, the landlord would have to absorb the difference between the SAFMR and the actual rent charged, creating a reimbursement gap.
Given these numbers, landlords in ZIP 32622 who participate in the Section 8 program can expect a significant surplus when renting a two-bedroom unit at market rates. The surplus is $501 per month, making Section 8 a financially beneficial option for landlords looking to ensure steady, government-backed rental income.
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.