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Leon County/Tallahassee/32308

32308

ZIPSAFMR
Leon County, FL
Zillow

ZIP Investment Score

93Below average

095130300
BRFMR
Eff. Rent
0 BR$1,270$1,190
1 BR$1,350$1,250
2 BR$1,520$1,510
3 BR$1,860$2,050
4 BR$2,000$2,200
5 BR$2,300Not available
6 BR$2,645Not available
7 BR$3,042Not available
8 BR$3,498Not available

Purchase Price Calculator

Maximum purchase price
$162,469

Cost breakdown

+Likely effective rent$1,510
HUD FMR$1,520
Market rentUsed$1,510
Est. payment standard (100%)$1,510
-Principal and interest-$822
Loan amount$129,975
Down payment$32,494
Rate6.50%
Term30 years
-Operating costs-$488
Property taxes-$162
Insurance-$175
Utilities$0
HOA$0
Management-$151
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,349(74.9% ROI)
Projected value
$174,961
Return breakdown
Property appreciation+$12,492
Loan principal paid down+$4,657
Rental cash flow+$7,200
5-year hold
+$41,654(128.2% ROI)
Projected value
$183,819
Return breakdown
Property appreciation+$21,350
Loan principal paid down+$8,304
Rental cash flow+$12,000
10-year hold
+$89,292(274.8% ROI)
Projected value
$207,974
Return breakdown
Property appreciation+$45,505
Loan principal paid down+$19,787
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.07
1 BR
1.08
2 BR
1.01
3 BR
0.76
4 BR
0.64
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 32308 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32308 (Tallahassee, FL) is $1,520 a month. That is up 5.6% from $1,440 in FY 2026. Tallahassee is in the Tallahassee, FL HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,424. Among 22 ZIP codes in Leon County, 32308 has the 6th-highest two-bedroom rent (county range $1,220–$1,790). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32308 is 3% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 32308
BedroomsFY 2027Change90–110% range
Studio$1,270+8.5%$1,143–$1,397
1BR$1,350+5.5%$1,215–$1,485
2BR$1,520+5.6%$1,368–$1,672
3BR$1,860+4.5%$1,674–$2,046
4BR$2,000+4.7%$1,800–$2,200

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 32308
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,270$1,350$1,520$1,860$2,000
FY 2026$1,170$1,280$1,440$1,780$1,910
FY 2025$1,110$1,230$1,380$1,740$1,910
FY 2024$1,130$1,260$1,430$1,820$2,030
FY 2023$1,010$1,140$1,320$1,710$1,880

Two-bedroom rent in nearby Leon County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 32308
32302$1,450−4.6%
32303$1,530+0.7%
32304$1,410−7.2%
32305$1,220−19.7%
32306$1,430−5.9%
32307$1,400−7.9%
32308Current$1,520—
32309$1,580+3.9%
32310$1,220−19.7%
32311$1,790+17.8%
32312$1,760+15.8%
32313$1,450−4.6%

Questions about ZIP 32308 rents

How much will Section 8 pay for a two-bedroom in ZIP 32308?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,424, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,282 to $1,566 a month; under the ZIP-level Small Area FMR of $1,520 it would be $1,368 to $1,672. 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 32308 in?

ZIP 32308 is in the Tallahassee, FL HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,424.

How much did fair market rent change in ZIP 32308 for FY 2027?

The two-bedroom FMR rose 5.6%, from $1,440 in FY 2026 to $1,520 in FY 2027. Since FY 2023 it has risen 15.2%.

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

County fair market rentTallahassee, FL fair market rentFL statewide rentsWhat is SAFMR?Data sources