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 | $1,040 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $181,447 | 0.74% | D |
| 3BR | $1,690 | $296,329 | 0.57% | F |
| 4BR | $1,780 | $394,411 | 0.45% | F |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 32693, which includes Bell, FL, and is part of the Gilchrist County and Gainesville, FL HUD Metro Fair Market Rent (FMR) area, presents a unique opportunity for landlords and small-portfolio investors. The HUD FMR for the zip code scope in fiscal year 2024 is set at $1030, which is higher than the market rent of $975 reported by the Census American Community Survey (ACS).
This indicates that voucher tenants will generally cashflow at the HUD FMR level, meaning landlords can expect a positive cashflow when renting to these tenants at the FMR rate. The median home value in the area is $281,189, leading to a rent-to-price ratio of approximately 0.35%, suggesting that the rental market is relatively stable compared to the housing market.
The dynamics of days on market (DOM) and price-cut share are not applicable in this scenario, as they are typically associated with the sales market rather than the rental market. However, the stability indicated by the rent-to-price ratio is a strong indicator of consistent demand for rental properties in the area.
In summary, the strongest investor angle in ZIP code 32693 is likely to be cashflow, given the favorable comparison between the HUD FMR and the actual market rent. This makes it an attractive location for those looking to generate steady rental income through Section 8 properties.
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.