Location: Ocala, FL | Metro: Ocala, FL MSA
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 | $1,220 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,430 | $180,581 | 0.79% | D |
| 3BR | $1,880 | $293,709 | 0.64% | D |
| 4BR | $1,980 | $464,725 | 0.43% | F |
| 5BR | $2,297 | $719,734 | 0.32% | F |
U.S. Census Bureau data (2024)
The ZIP code 34471, located in Ocala, Florida, represents a significant opportunity for landlords and small-portfolio investors interested in Section 8 tenants. With a population of 28,342, nearly 38.4% of residents are renters, indicating a robust demand for rental properties. This high percentage of renters suggests that there is a substantial pool of potential Section 8 tenants looking for affordable housing.
The median household income in ZIP 34471 is $65,789, which is a key figure when assessing the financial landscape. The typical market rent of $1,566 per month accounts for approximately 23.8% of the median income. This means that the average renter spends just under one-quarter of their income on rent, aligning closely with the general guideline that housing costs should not exceed 30% of one's income. However, it also highlights that many residents might still struggle to afford market rates without assistance.
Comparatively, the Fair Market Rent (FMR) for ZIP 34471 is set at $1,330 per month for FY 2024. This FMR is lower than the market rent, suggesting that there is a gap between what the market charges and what the government considers a fair rate. Landlords who can offer rents closer to the FMR will be more competitive in attracting Section 8 tenants.
The kind of tenant profile a landlord in ZIP 34471 should expect includes individuals and families who rely on government assistance to secure housing. These tenants are likely to have incomes below the median, making them eligible for Section 8 vouchers. They will be seeking affordable housing options that do not exceed the FMR threshold, emphasizing the importance of landlords understanding and complying with HUD regulations and standards.
In summary, ZIP 34471 presents a strong tenant pool for those willing to work with Section 8 vouchers. The high percentage of renters and the alignment of market rents with a significant portion of local income make this area ripe for investment in affordable housing. Landlords should prepare to serve a demographic that is financially reliant on housing subsidies to meet their living needs.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.