Section 8 Fair Market Rent (FMR) for ZIP 32627 - 2027

FY 2027 Fair Market Rent Rates

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

Based on the available data, ZIP code 32627 is part of Gainesville, FL, and represents a neighborhood with a population of 7,627 individuals. The median household income in this area is $37,627, and the median home value stands at $178,878. Given that the exact percentage of renters is not specified, we can infer that there is a significant portion of the population that relies on rental properties, making it an interesting area for investors. In terms of rent economics, the Fair Market Rent (FMR) for a two-bedroom home in ZIP 32627 for fiscal year 2024 is $1,410 per month. Unfortunately, specific data on the current market rent for this ZIP code is not readily available. However, the FMR serves as a useful benchmark for understanding the potential rental income in this area. Considering these factors, ZIP 32627 might be better suited for a hands-on value-add buyer rather than a hands-off voucher operator. The relatively low median income suggests that many tenants may rely on Section 8 vouchers, which could be advantageous for landlords willing to work with the program. However, the opportunity to increase property values through renovations or improvements could also present itself, given the median home value and the demographic makeup of the area.

A hands-on approach allows for the possibility of enhancing rental income beyond the FMR, potentially attracting higher-paying tenants or improving the overall quality of the rental units. This strategy would require active management and possibly some capital investment to add value to the properties.

On the other hand, a hands-off voucher operator would benefit from the steady stream of government-subsidized rents, although this would likely cap the rental income at the FMR level. Given the limited availability of detailed market rent data, it is prudent for investors to consider both options carefully, factoring in their management preferences and financial goals.

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.