Florida · FIPS 12079 · HUD FY 2027
Madison County, Florida Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Madison County is $978 a month (rent plus utilities), 50% below the Florida average of $1,962 and 44% below the U.S. average of $1,761. That is down $108 (9.9%) from FY 2026. At 30% of income, a household needs about $39,120 a year to afford it.
- $9782-bedroom FMR−$108 (−9.9%) vs FY 2026
- $8731-bedroom FMRFlorida: $1,665 · U.S.: $1,478
- $39,120Income for a 2-bedroom$19/hour full-time
- 60 of 672BR rank in Florida1 = highest rent
| Unit | Madison County FY 2027 | FY 2026 | Change | Florida avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $786 | $873 | −$87 (−10.0%) | $1,566 | $1,379 | $31,440 |
| 1 bedroom | $873 | $969 | −$96 (−9.9%) | $1,665 | $1,478 | $34,920 |
| 2 bedrooms | $978 | $1,086 | −$108 (−9.9%) | $1,962 | $1,761 | $39,120 |
| 3 bedrooms | $1,260 | $1,400 | −$140 (−10.0%) | $2,532 | $2,266 | $50,400 |
| 4 bedrooms | $1,389 | $1,543 | −$154 (−10.0%) | $2,947 | $2,607 | $55,560 |
How Madison County compares
- Madison County is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across Florida, 2-bedroom FMRs run from $953 (Taylor County) to $2,564 (Miami-Dade County).
- Studio to 4-bedroom: $786, $873, $978, $1,260, $1,389. 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 4 ZIP codes mostly in Madison County (by land area), the 2-bedroom figure ranges from $980 to $1,220.
Small Area FMRs by ZIP code in Madison County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 32059 | $790 | $880 | $980 | $1,260 | $1,390 | −$90 (−8.4%) | about the same as |
| 32331 | $990 | $1,090 | $1,220 | $1,510 | $1,620 | +$30 (+2.5%) | 25% above |
| 32340 | $800 | $900 | $990 | $1,280 | $1,400 | −$100 (−9.2%) | 1% above |
| 32350 | $820 | $900 | $1,010 | $1,310 | $1,390 | −$60 (−5.6%) | 3% above |
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.