Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 32323 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32323 (Franklin County, FL) is $1,250 a month. That is up 0.8% from $1,240 in FY 2026. Franklin County is in the Franklin County, FL non-metropolitan 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 county-wide two-bedroom FMR of $1,068. Among 7 ZIP codes in Franklin County, 32323 is tied for the 3rd-highest two-bedroom rent (county range $1,070–$1,360). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32323 is 15% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 32323
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,080
$1,100
+1.9%
$990–$1,210
1BR
$1,110
$1,150
+3.6%
$1,035–$1,265
2BR
$1,240
$1,250
+0.8%
$1,125–$1,375
3BR
$1,640
$1,640
0.0%
$1,476–$1,804
4BR
$1,640
$1,640
0.0%
$1,476–$1,804
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 32323
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,100
$1,150
$1,250
$1,640
$1,640
FY 2026
$1,080
$1,110
$1,240
$1,640
$1,640
FY 2025
$860
$860
$990
$1,320
$1,320
FY 2024area FMR
$792
$814
$914
$1,273
$1,277
FY 2023area FMR
$719
$735
$830
$1,180
$1,414
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Franklin County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 32323?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,068, which applies unless the housing authority uses Small Area FMRs, that basic range is $961 to $1,175 a month; under the ZIP-level Small Area FMR of $1,250 it would be $1,125 to $1,375. 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 32323 in?
ZIP 32323 is in the Franklin County, FL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,068.
How much did fair market rent change in ZIP 32323 for FY 2027?
The two-bedroom FMR rose 0.8%, from $1,240 in FY 2026 to $1,250 in FY 2027. Since FY 2025 it has risen 26.3%.
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