Location: Gainesville, FL | Metro: Gainesville, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
The ZIP code 32658 stands out due to its unique data signature. With only 347 residents, it has an exceptionally low rental rate of 0.8%, indicating that very few people in this area rent their homes. The median income in ZIP 32658 is $53,568, which is noteworthy but without a median home value, it's challenging to assess the overall economic health of homeownership in the area.
Turning to the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 32658 in fiscal year 2024 is set at $1400. This figure is critical for landlords and small-portfolio investors as it represents the maximum amount the federal government will pay for rental assistance. However, the absence of market rent data means that comparing the FMR to local market rates is impossible, leaving a gap in understanding the financial dynamics for landlords accepting vouchers.
In conclusion, the data signature for ZIP 32658 reads as "transitional." The extremely low rental rate suggests a shift away from traditional rental markets, possibly due to factors such as high homeownership rates or the presence of non-traditional housing arrangements. Without concrete information on median home values and market rents, making definitive statements about stability or growth trends is difficult. Landlords should be cautious when evaluating the potential benefits and risks of participating in the Section 8 program within this ZIP code, considering the limited availability of tenants who might require rental assistance.
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.