Section 8 Fair Market Rent (FMR) for ZIP 33101 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 33101, located in Jacksonville, Florida, is a bustling urban area with a mix of residential and commercial properties. Known for its proximity to downtown amenities and its diverse population, it presents a unique opportunity for real estate investors looking to capitalize on the local housing market dynamics.

• The Fair Market Rent (FMR) for ZIP 33101 in fiscal year 2024 is set at $2320. This figure represents the average monthly rent for a two-bedroom apartment, indicating a robust rental market that supports higher rent prices.
• The median home value in ZIP 33101 is currently listed as N/A, suggesting a lack of recent sales data which can be indicative of a stable market where homes are held for long-term investment rather than frequent turnover.
• Renter share in the area stands at N/A%, which would typically suggest the proportion of residents who prefer renting over owning. However, the absence of this data implies that ownership trends are unclear, making it important for investors to research further into local buying versus renting preferences.
• The days on market (DOM) for properties in ZIP 33101 is N/A days, which usually indicates how quickly homes are selling. The unavailability of this statistic might point towards a steady market with consistent demand, though it's crucial to verify this with additional sources.
• The median household income in the area is N/A, which is essential for understanding the financial capacity of potential tenants. Without this information, investors should look into employment rates and job availability to gauge the economic health of the area.
• Market rent data for ZIP 33101 is currently N/A, making it difficult to compare actual rental prices against the FMR. To make informed decisions, investors must seek out local real estate listings and recent lease agreements to get a clearer picture of prevailing rents.

In summary, while the Fair Market Rent for ZIP 33101 is established at $2320, indicating a strong rental environment, the lack of specific data points such as median home values, renter share percentages, and median income figures suggests a need for deeper investigation. Investors should focus on gathering detailed local market intelligence to make strategic decisions about property acquisitions and management in this dynamic area of Jacksonville, Florida.

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.