Location: Levy County, 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 | $870 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,210 | $211,640 | 0.57% | F |
| 3BR | $1,490 | $374,070 | 0.4% | F |
U.S. Census Bureau data (2024)
ZIP code 34498, located in Yankeetown, Florida, falls within the Levy County, FL HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 34498 in fiscal year 2024 is set at $1180. This figure is slightly above the area's average market rent of $1,108, indicating that the rental prices in Yankeetown are competitive within the larger metro area.
The median home value in ZIP 34498 stands at $278,674, which is lower than many other ZIP codes in the Levy County metro area. This suggests that Yankeetown may be considered a more affordable sub-market within the region. However, it is important to note that the lower home values do not necessarily correlate with lower property taxes or maintenance costs, so landlords should conduct thorough due diligence on individual properties.
The renter share in ZIP 34498 is 18.3%, which is relatively low compared to many urban areas but could still be significant within the context of the broader Levy County metro. A higher-than-average renter share combined with below-average home values can sometimes indicate a sweet spot for Section 8 investments, where there is ample demand for affordable housing without the burden of overpriced properties.
To determine if ZIP 34498 is a value pocket, a mid-tier neighborhood, or a premium sub-market, we must consider the overall metrics. Given that the FMR is only marginally higher than the market rent and the home values are below the metro average, it is reasonable to infer that ZIP 34498 represents a value pocket within the Levy County HUD Metro FMR Area. This means that landlords and small-portfolio investors can potentially find good deals on properties while still being able to charge rents that are close to fair market rates.
However, the decision to invest should also take into account other factors such as local employment trends, population growth, and the availability of Section 8 vouchers in the area. Landlords interested in this ZIP code should review the specifics of the Section 8 program and consult with local housing authorities to understand the dynamics of the rental market in Yankeetown.
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.