Skip to main content
Loading page
Leon County/Tallahassee/32311

32311

ZIPSAFMR
Leon County, FL
Zillow

ZIP Investment Score

90Below average

095130300
BRFMR
Eff. Rent
0 BR$1,490$1,380
1 BR$1,590$1,440
2 BR$1,790$1,360
3 BR$2,190$2,290
4 BR$2,350$2,590
5 BR$2,703Not available
6 BR$3,108Not available
7 BR$3,574Not available
8 BR$4,110Not available

Purchase Price Calculator

Maximum purchase price
$140,179

Cost breakdown

+Likely effective rent$1,360
HUD FMR$1,790
Market rentUsed$1,360
Est. payment standard (90%)$1,610
-Principal and interest-$709
Loan amount$112,143
Down payment$28,036
Rate6.50%
Term30 years
-Operating costs-$451
Property taxes-$140
Insurance-$175
Utilities$0
HOA$0
Management-$136
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,996(78.5% ROI)
Projected value
$150,957
Return breakdown
Property appreciation+$10,778
Loan principal paid down+$4,018
Rental cash flow+$7,200
5-year hold
+$37,586(134.1% ROI)
Projected value
$158,600
Return breakdown
Property appreciation+$18,421
Loan principal paid down+$7,165
Rental cash flow+$12,000
10-year hold
+$80,334(286.5% ROI)
Projected value
$179,441
Return breakdown
Property appreciation+$39,262
Loan principal paid down+$17,073
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
1.08
1 BR
1.10
2 BR
1.32
3 BR
0.94
4 BR
0.77
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 32311 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32311 (Tallahassee, FL) is $1,790 a month. That is up 7.2% from $1,670 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, 32311 is tied for the highest two-bedroom rent (county range $1,220–$1,790). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32311 is 21% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 32311
BedroomsFY 2027Change90–110% range
Studio$1,490+9.6%$1,341–$1,639
1BR$1,590+6.7%$1,431–$1,749
2BR$1,790+7.2%$1,611–$1,969
3BR$2,190+5.8%$1,971–$2,409
4BR$2,350+6.3%$2,115–$2,585

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 32311
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,490$1,590$1,790$2,190$2,350
FY 2026$1,360$1,490$1,670$2,070$2,210
FY 2025$1,310$1,460$1,630$2,050$2,260
FY 2024$1,280$1,430$1,620$2,070$2,300
FY 2023$1,090$1,230$1,420$1,830$2,020

Two-bedroom rent in nearby Leon County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 32311
32305$1,220−31.8%
32306$1,430−20.1%
32307$1,400−21.8%
32308$1,520−15.1%
32309$1,580−11.7%
32310$1,220−31.8%
32311Current$1,790—
32312$1,760−1.7%
32313$1,450−19.0%
32314$1,450−19.0%
32315$1,450−19.0%
32316$1,450−19.0%

Questions about ZIP 32311 rents

How much will Section 8 pay for a two-bedroom in ZIP 32311?

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 $1,790 it would be $1,611 to $1,969. 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 32311 in?

ZIP 32311 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 32311 for FY 2027?

The two-bedroom FMR rose 7.2%, from $1,670 in FY 2026 to $1,790 in FY 2027. Since FY 2023 it has risen 26.1%.

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