FMR is near market; voucher and private rents are aligned.
0.93
2 BR
2 BR
0.96ratio
FMR$1,471
Market$1,540
vs market-$69
FMR is near market; voucher and private rents are aligned.
0.96
3 BR
3 BR
0.90ratio
FMR$1,806
Market$2,000
vs market-$194
FMR is near market; voucher and private rents are aligned.
0.90
4 BR
4 BR
0.67ratio
FMR$1,933
Market$2,890
vs market-$957
FMR is below market; voucher rent may lag private rents.
0.67
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
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ZIP 32654 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 32654 (Island Grove, FL) is $1,471 a month. That is down 1.5% from $1,493 in FY 2026. Island Grove is in the Gainesville, FL HUD Metro FMR Area.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 32654
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,154
$1,197
+3.7%
$1,077–$1,317
1BR
$1,246
$1,241
−0.4%
$1,117–$1,365
2BR
$1,493
$1,471
−1.5%
$1,324–$1,618
3BR
$1,868
$1,806
−3.3%
$1,625–$1,987
4BR
$1,977
$1,933
−2.2%
$1,740–$2,126
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 32654
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,197
$1,241
$1,471
$1,806
$1,933
FY 2026
$1,154
$1,246
$1,493
$1,868
$1,977
FY 2025
$1,176
$1,308
$1,583
$2,016
$2,099
FY 2024
$1,053
$1,162
$1,397
$1,832
$1,861
FY 2023SAFMR
$860
$950
$1,140
$1,510
$1,530
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about ZIP 32654 rents
How much will Section 8 pay for a two-bedroom in ZIP 32654?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,471, that basic range is $1,324 to $1,618 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 32654 in?
ZIP 32654 is in the Gainesville, FL HUD Metro FMR Area. Small Area FMRs are not mandatory in this area.
How much did fair market rent change in ZIP 32654 for FY 2027?
The two-bedroom FMR fell 1.5%, from $1,493 in FY 2026 to $1,471 in FY 2027. Since FY 2024 it has risen 5.3%.
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 Fair Market Rents. 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