Location: Union County, FL | Metro: Union County, FL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
ZIP code 32697, located within the Union County, FL metro, presents a unique scenario when compared against typical ZIP codes in the same county. The Fair Market Rent (FMR) for 32697 stands at $1,480, which is the benchmark set by HUD for determining eligibility for housing assistance programs such as Section 8. This figure is reflective of the overall metro's FMR for fiscal year 2026.
The market rent for 32697 is listed at $1,109. This indicates that the actual rental rates in this ZIP code are below the HUD-set FMR, suggesting that it could be an attractive area for landlords participating in Section 8 programs. Landlords can potentially offer competitive rents while still receiving the higher FMR reimbursement from the government.
The home value data for 32697 is not available, which might imply that the focus of the real estate market in this area is heavily skewed towards rentals rather than homeownership. This aligns with the high renter share of 47.4%, significantly above what might be considered average for Union County, FL ZIP codes. A high proportion of renters combined with lower market rents can signal a potential sweet spot for Section 8 landlords and investors looking to capitalize on the demand for affordable rental housing.
Based on the given data, ZIP code 32697 appears to be a value pocket within its metro. The lower market rent compared to the FMR suggests that there is room for landlords to profit from Section 8 vouchers without overpricing their units. Additionally, the significant renter share indicates a robust demand for rental properties, making it an ideal location for those focused on the rental market.
To further analyze the specifics of 32697 versus other ZIP codes in Union County, FL, a comparison of additional metrics such as vacancy rates, property taxes, and local amenities would be necessary. However, with the available information, it is evident that 32697 offers a favorable environment for landlords and investors interested in Section 8 properties.
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.