Florida · FIPS 12005 · HUD FY 2027
Bay County, Florida Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Bay County is $1,651 a month (rent plus utilities), 16% below the Florida average of $1,962 and 6% below the U.S. average of $1,761. That is down $31 (1.8%) from FY 2026. At 30% of income, a household needs about $66,040 a year to afford it.
- $1,6512-bedroom FMR−$31 (−1.8%) vs FY 2026
- $1,5171-bedroom FMRFlorida: $1,665 · U.S.: $1,478
- $66,040Income for a 2-bedroom$32/hour full-time
- 27 of 672BR rank in Florida1 = highest rent
| Unit | Bay County FY 2027 | FY 2026 | Change | Florida avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $1,414 | $1,426 | −$12 (−0.8%) | $1,566 | $1,379 | $56,560 |
| 1 bedroom | $1,517 | $1,480 | +$37 (+2.5%) | $1,665 | $1,478 | $60,680 |
| 2 bedrooms | $1,651 | $1,682 | −$31 (−1.8%) | $1,962 | $1,761 | $66,040 |
| 3 bedrooms | $2,101 | $2,169 | −$68 (−3.1%) | $2,532 | $2,266 | $84,040 |
| 4 bedrooms | $2,567 | $2,689 | −$122 (−4.5%) | $2,947 | $2,607 | $102,680 |
How Bay County compares
- HUD sets this rent for the Panama City, FL metro FMR area, which covers 186,393 residents in 1 county.
- Across Florida, 2-bedroom FMRs run from $953 (Taylor County) to $2,564 (Miami-Dade County).
- Studio to 4-bedroom: $1,414, $1,517, $1,651, $2,101, $2,567. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 12 ZIP codes mostly in Bay County (by land area), the 2-bedroom figure ranges from $1,520 to $2,350.
Small Area FMRs by ZIP code in Bay County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 32401 | $1,290 | $1,340 | $1,520 | $1,960 | $2,430 | +$70 (+4.8%) | 8% below |
| 32403 | $2,010 | $2,160 | $2,350 | $2,990 | $3,650 | +$60 (+2.6%) | 42% above |
| 32404 | $1,340 | $1,440 | $1,570 | $2,000 | $2,440 | −$30 (−1.9%) | 5% below |
| 32405 | $1,420 | $1,520 | $1,660 | $2,110 | $2,580 | −$40 (−2.4%) | 1% above |
| 32407 | $1,800 | $1,930 | $2,100 | $2,670 | $3,260 | −$140 (−6.2%) | 27% above |
| 32408 | $1,410 | $1,520 | $1,650 | $2,100 | $2,570 | +$10 (+0.6%) | about the same as |
| 32409 | $1,290 | $1,340 | $1,520 | $1,960 | $2,430 | +$70 (+4.8%) | 8% below |
| 32410 | $1,810 | $1,940 | $2,110 | $2,690 | $3,280 | +$40 (+1.9%) | 28% above |
| 32413 | $1,590 | $1,710 | $1,860 | $2,370 | $2,890 | +$20 (+1.1%) | 13% above |
| 32438 | $1,290 | $1,340 | $1,520 | $1,960 | $2,430 | +$70 (+4.8%) | 8% below |
| 32444 | $1,470 | $1,580 | $1,720 | $2,190 | $2,670 | −$110 (−6.0%) | 4% above |
| 32466 | $1,290 | $1,340 | $1,520 | $1,960 | $2,430 | +$70 (+4.8%) | 8% below |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.