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Leon County/Tallahassee/32317

32317

ZIPSAFMR
Leon County, FL
Zillow

ZIP Investment Score

95Above average

095130300
BRFMR
Eff. Rent
0 BR$1,490$1,460
1 BR$1,590$1,300
2 BR$1,790$1,650
3 BR$2,190$2,330
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
$183,273

Cost breakdown

+Likely effective rent$1,650
HUD FMR$1,790
Market rentUsed$1,650
Est. payment standard (95%)$1,700
-Principal and interest-$927
Loan amount$146,618
Down payment$36,655
Rate6.50%
Term30 years
-Operating costs-$523
Property taxes-$183
Insurance-$175
Utilities$0
HOA$0
Management-$165
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,545(72.4% ROI)
Projected value
$197,365
Return breakdown
Property appreciation+$14,092
Loan principal paid down+$5,253
Rental cash flow+$7,200
5-year hold
+$45,451(124.0% ROI)
Projected value
$207,356
Return breakdown
Property appreciation+$24,084
Loan principal paid down+$9,367
Rental cash flow+$12,000
10-year hold
+$97,653(266.4% ROI)
Projected value
$234,605
Return breakdown
Property appreciation+$51,332
Loan principal paid down+$22,321
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.02
1 BR
1.22
2 BR
1.08
3 BR
0.91
4 BR
0.84
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 32317 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32317 (Tallahassee, FL) is $1,790 a month. That is up 9.8% from $1,630 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, 32317 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 32317 is 21% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 32317
BedroomsFY 2027Change90–110% range
Studio$1,490+12.9%$1,341–$1,639
1BR$1,590+9.7%$1,431–$1,749
2BR$1,790+9.8%$1,611–$1,969
3BR$2,190+8.4%$1,971–$2,409
4BR$2,350+8.8%$2,115–$2,585

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 32317
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,490$1,590$1,790$2,190$2,350
FY 2026$1,320$1,450$1,630$2,020$2,160
FY 2025$1,280$1,420$1,590$2,000$2,210
FY 2024$1,290$1,440$1,630$2,080$2,320
FY 2023$1,170$1,320$1,530$1,980$2,170

Two-bedroom rent in nearby Leon County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 32317
32307$1,400−21.8%
32308$1,520−15.1%
32309$1,580−11.7%
32310$1,220−31.8%
32311$1,7900.0%
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%
32317Current$1,790—
32318$1,450−19.0%

Questions about ZIP 32317 rents

How much will Section 8 pay for a two-bedroom in ZIP 32317?

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 32317 in?

ZIP 32317 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 32317 for FY 2027?

The two-bedroom FMR rose 9.8%, from $1,630 in FY 2026 to $1,790 in FY 2027. Since FY 2023 it has risen 17.0%.

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