FMR is below market; voucher rent may lag private rents.
0.80
1 BR
1 BR
0.70ratio
FMR$1,350
Market$1,930
vs market-$580
FMR is below market; voucher rent may lag private rents.
0.70
2 BR
2 BR
0.72ratio
FMR$1,610
Market$2,240
vs market-$630
FMR is below market; voucher rent may lag private rents.
0.72
3 BR
3 BR
0.70ratio
FMR$1,970
Market$2,820
vs market-$850
FMR is below market; voucher rent may lag private rents.
0.70
4 BR
4 BR
0.72ratio
FMR$2,470
Market$3,410
vs market-$940
FMR is below market; voucher rent may lag private rents.
0.72
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 32035 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32035 (Fernandina Beach, FL) is $1,610 a month. That is up 6.6% from $1,510 in FY 2026. Fernandina Beach is in the Jacksonville, FL HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 8 ZIP codes in Nassau County, 32035 is tied for the 3rd-highest two-bedroom rent (county range $1,030–$2,070). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32035 is 9% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 32035
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,230
$1,330
+8.1%
$1,197–$1,463
1BR
$1,260
$1,350
+7.1%
$1,215–$1,485
2BR
$1,510
$1,610
+6.6%
$1,449–$1,771
3BR
$1,860
$1,970
+5.9%
$1,773–$2,167
4BR
$2,330
$2,470
+6.0%
$2,223–$2,717
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 32035
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,330
$1,350
$1,610
$1,970
$2,470
FY 2026
$1,230
$1,260
$1,510
$1,860
$2,330
FY 2025
$1,250
$1,320
$1,570
$1,960
$2,490
FY 2024
$1,160
$1,270
$1,500
$1,900
$2,410
FY 2023
$920
$1,070
$1,260
$1,620
$2,050
Two-bedroom rent in nearby Nassau County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 32035?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,610, that basic range is $1,449 to $1,771 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 32035 in?
ZIP 32035 is in the Jacksonville, FL HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in ZIP 32035 for FY 2027?
The two-bedroom FMR rose 6.6%, from $1,510 in FY 2026 to $1,610 in FY 2027. Since FY 2023 it has risen 27.8%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set