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 | $1,200 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,400 | $185,762 | 0.75% | D |
| 3BR | $1,840 | $272,534 | 0.68% | D |
| 4BR | $1,930 | $449,072 | 0.43% | F |
| 5BR | $2,239 | $697,175 | 0.32% | F |
U.S. Census Bureau data (2024)
The ZIP code 34480, located in Ocala, FL, can be positioned within the broader Ocala, FL Metropolitan Statistical Area (MSA). Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1180, which is lower than the market rent of $1,469 observed in the area. This suggests that the ZIP code might be considered a value pocket within the Ocala MSA, offering rental opportunities at a rate below the market average.
The median home value in ZIP 34480 stands at $314,787, which is likely on par with other ZIP codes in the Ocala MSA. However, the significant renter share of 23.3% indicates a higher concentration of renters compared to the typical ZIP code within the MSA. This combination of below-market rents and a substantial renter population makes 34480 an attractive location for landlords and small-portfolio investors seeking to capitalize on the demand for affordable housing.
To further contextualize, let's compare these figures to the typical characteristics of ZIP codes within the Ocala, FL MSA. A typical ZIP code in the Ocala MSA would have a higher FMR and market rent, possibly closer to the national average for such areas. The home value of $314,787 is indicative of a middle-range property price point, suggesting that 34480 is neither a premium sub-market nor an exceptionally low-value area but rather a mid-tier neighborhood.
The standout feature here is the 23.3% renter share, which is notably higher than the average across the MSA. This high percentage of renters combined with below-average home values often points to a sweet spot for Section 8 investments, where the government-subsidized rental program can support occupancy rates and stabilize cash flows for landlords.
In conclusion, ZIP 34480 appears to be a value pocket within the Ocala, FL MSA, offering rental opportunities at a rate below the market average while maintaining a median home value that aligns with the metro area. The high renter share makes it particularly appealing for those interested in Section 8 properties, ensuring a steady demand for rental units.
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.