FY2027 Small Area FMR · Pensacola, FL

ZIP 32503 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 32503 (Pensacola, FL) is $1,500 a month, down 2.0% from FY2026. That is 3% below the Pensacola-Ferry Pass-Brent, FL area-wide FMR of $1,548.

2-bedroom SAFMR$1,500per month ▼ 2.0%

Area-wide 2 BR FMR$1,548Pensacola-Ferry Pass-Brent,

Rank in the area30thof 37 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,350

2 BR Small Area FMR$1,500

110% of SAFMR$1,650

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,120▼ 3.4%

1 BR$1,320▲ 0.8%

2 BR$1,500▼ 2.0%

3 BR$1,970▼ 3.0%

4 BR$2,360▼ 4.5%

FY2027 FY2026

Where 32503 sits in the Pensacola-Ferry Pass-Brent, FL area

Of the 37 ZIP codes HUD lists for the area, 32503 has the 30th highest two-bedroom Small Area FMR. Pensacola-Ferry Pass-Brent, FL is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,548 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,500 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,120	$1,008 – $1,232	$1,154	$1,160
1 bedroom	$1,320	$1,188 – $1,452	$1,359	$1,310
2 bedrooms	$1,500	$1,350 – $1,650	$1,548	$1,530
3 bedrooms	$1,970	$1,773 – $2,167	$2,034	$2,030
4 bedrooms	$2,360	$2,124 – $2,596	$2,435	$2,470

A household renting a two-bedroom home at the Small Area FMR of $1,500 needs about $60,000 a year to keep housing costs at 30% of income. The area median family income is $92,800 and the 80% low-income limit for four people is $74,600. ZIP code 32503 lies mainly in Escambia County. See the Pensacola-Ferry Pass-Brent, FL metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
32504	Pensacola	1.9 mi	$1,530
32501	Pensacola	2.2 mi	$1,330
32505	Pensacola	2.8 mi	$1,330
32502	Pensacola	3.5 mi	$1,580
32514	Pensacola	5.0 mi	$1,730
32511	Pensacola	5.9 mi	$1,560

Questions

What is the Fair Market Rent for ZIP code 32503?

HUD's FY2027 Small Area Fair Market Rents for 32503 are $1,120 (studio), $1,320 (1 BR), $1,500 (2 BR), $1,970 (3 BR) and $2,360 (4 BR) a month.

What is the Section 8 payment standard in 32503?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 32503 that range is $1,350 to $1,650 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 32503?

The FY2026 income limits of the Pensacola-Ferry Pass-Brent, FL area apply: median family income $92,800, low-income (80%) limit $74,600 for a family of four.