ZIP Code Tabulation Area
ZIP area 32407, Bay County, Florida: rent, home value and fair market rent
ZCTA 32407 is the U.S. Census Bureau's statistical area for ZIP code 32407, in Bay County, Florida. It has about 7,010 occupied homes, 43.6% of them renter-occupied (Census ACS 2020-2024).
Census American Community Survey
Key figures for ZIP area 32407
Census ACS five-year estimates for ZCTA 32407, 2020–2024.
- Median gross rent
- $1,840 per monthRenter homes paying cash rent; rent plus utilities · Census table B25064
- Median home value
- $404,000Owner-occupied homes; the owner's estimate · Census table B25077
- Median household income
- $80,800 per yearAll households; 2024 dollars · Census table B19013
- Renter-occupied homes
- 43.6% of occupied homesCensus table B25003
- Occupied homes
- About 7,010Rounded to tens · Census table B25003
- Rental vacancy rate
- 10.8%Vacant for rent, share of the rental inventory · Census table B25004
HUD Small Area Fair Market Rents
HUD fair market rents for ZIP 32407, fiscal year 2027
Fiscal year starting October 1, 2026. HUD's ZIP-level estimates at the 40th percentile of recent movers' gross rents, used to set Housing Choice Voucher payment standards in HUD-designated areas or where a housing agency opts in: a program benchmark, not the typical rent.
| Home size | Fair market rent per month |
|---|---|
| Studio (no bedroom) | $1,800 |
| 1 bedroom | $1,930 |
| 2 bedrooms | $2,100 |
| 3 bedrooms | $2,670 |
| 4 bedrooms | $3,260 |
FHFA House Price Index (developmental)
House price trend in ZIP 32407: FHFA index for 2025
From repeat sales and refinancings of single-family homes; it can be revised. Data as of March 31, 2026.
- Annual change, 2025
- +1.2%FHFA HPI, five-digit ZIP codes (developmental)
- Change over five years, 2020–2025
- +37.2%
Derived, not official statistics
MyInversorAI indicators for ZIP 32407 (derived, not official statistics)
Calculated from the medians above, which describe different groups; no margin of error is computed for them.
- Estimated gross annual yield
- 5.5%MyInversorAI estimate: 12 × median rent ÷ median value.
- Price-to-income ratio
- 5.0MyInversorAI estimate: median value ÷ median income.
- Rent-to-income ratio
- 27.3%MyInversorAI estimate: 12 × median rent ÷ median income.At or below HUD's 30% cost-burden line.
They describe the area, not a home, and promise no return.
ZIP area and state
ZIP 32407 compared with Florida
Difference calculated by MyInversorAI.
| Median | ZIP 32407 | Florida | Difference |
|---|---|---|---|
| Gross rent (per month) | $1,840 | $1,669 | +10% |
| Home value | $404,000 | $359,000 | +13% |
| Household income (per year) | $80,800 | $74,568 | +8% |
Within the state
Where ZIP 32407 ranks in Florida
Among the ZIP areas of Florida with a published value; ranked by MyInversorAI.
- Median gross rent: tied with 6 others for 242nd highest of 853 ZIP areas, above 71% of the others.
- Median home value: tied with 2 others for 289th highest of 898 ZIP areas, above 67% of the others.
- Median household income: tied with 2 others for 330th highest of 906 ZIP areas, above 63% of the others.
- Rental vacancy rate: tied with 4 others for 160th highest of 736 ZIP areas, above 77% of the others.
Same main county
ZIP areas of Bay County with the closest median rent
Main county by area (Census 2020 ZCTA to County Relationship File).
| ZIP area | Median gross rent | Rent vs ZIP 32407 | Median home value | Value vs ZIP 32407 | Gross yield (MyInversorAI estimate) |
|---|---|---|---|---|---|
| ZIP 32413 | $1,700 | −$140 | $441,000 | +$37,000 | 4.6% |
| ZIP 32408 | $1,580 | −$260 | $382,000 | −$22,000 | 5.0% |
| ZIP 32405 | $1,470 | −$370 | $280,000 | −$124,000 | 6.3% |
| ZIP 32444 | $1,470 | −$370 | $331,000 | −$73,000 | 5.3% |
| ZIP 32404 | $1,400 | −$440 | $274,000 | −$130,000 | 6.1% |
| ZIP 32401 | $1,150 | −$690 | $231,000 | −$173,000 | 6.0% |
Quotable facts
Key facts about ZIP 32407
- In ZIP Code Tabulation Area 32407, the median gross rent was $1,840 a month and the median home value $404,000 in the Census ACS 2020-2024.
- Its median household income was $80,800 a year, and renters occupied 43.6% of its roughly 7,010 occupied homes.
- Its median gross rent is 10% higher than the Florida median ($1,669).
- Its median home value is 13% higher than the Florida median ($359,000).
- HUD's two-bedroom fair market rent in ZIP 32407 (fiscal year 2027) is $2,100 a month, 14% above the ACS median gross rent ($1,840).
- FHFA's developmental index for ZIP 32407 rose 1.2% in 2025 and 37.2% over five years.
- Its ACS rental vacancy rate was 10.8%, higher than in 77% of the other 735 Florida ZIP areas with a published rate.
- Its median household income is tied with 2 others for the 330th highest of the 906 Florida ZIP areas with a published figure.
Sources and method
Where the figures come from
- Source: U.S. Census Bureau, American Community Survey 5-year estimates. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
- Source: U.S. Department of Housing and Urban Development, Small Area Fair Market Rents. This product uses the HUD User Data API but is not endorsed or certified by HUD User.
- Source: Federal Housing Finance Agency, House Price Index (five-digit ZIP codes, developmental).
- Source: U.S. Census Bureau, 2020 ZCTA to County Relationship File.
Rounded: ZIP-level ACS rents to $10, values to $1,000 and incomes to $100; state medians as published. No private listing data, forecasts or scores.
Caveats
Before you use these figures
A ZIP Code Tabulation Area does not always cover the same homes as the USPS ZIP code. Census medians with a coefficient of variation above 30%, or top- or bottom-coded, are not shown. Fair market rents are a HUD benchmark, not the typical rent. The main county holds the largest part of the area, not necessarily most residents.
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Educational information
Not financial, tax or legal advice
These pages summarize published statistics for education. They are not a forecast, an appraisal, or financial, tax, lending or legal advice, and they do not promise any return. Estimates have margins of error and can be revised by their publishers. Verify the figures that matter to your decision.