Location: Monroe County, FL | Metro: Monroe County, FL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,560 |
| 1 Bedroom | $1,990 |
| 2 Bedrooms | $2,260 |
| 3 Bedrooms | $2,980 |
| 4 Bedrooms | $2,990 |
| 5 Bedrooms | $3,468 |
| 6 Bedrooms | $3,884 |
| 7 Bedrooms | $4,195 |
| 8 Bedrooms | $4,405 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,260 | $811,416 | 0.28% | F |
| 3BR | $2,980 | $994,012 | 0.3% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 33001 in Florida for the fiscal year 2026 is set at $2,390. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, which is the maximum amount the government will pay to cover a tenant's rent. It does not mean you can charge $2,390; rather, it indicates the upper limit for the government subsidy.
In comparison, the average market rent in ZIP 33001, based on Census American Community Survey (ACS) data, is around $2,175. This suggests that the FMR is slightly above the typical rent price, providing a reasonable margin for landlords who participate in the Section 8 program.
The rental share in this area stands at 29.8%, meaning nearly three out of ten households are renters. This percentage reflects a steady demand for rental properties, making ZIP 33001 an attractive location for your first Section 8 rental.
When acquiring a property, consider the median home value, which is approximately $868,630. This figure gives you an idea of the potential investment required to enter the market in this ZIP code. However, it's important to note that the cost of a rental property can vary widely depending on its condition, size, and location within the ZIP code.
Before committing to a Section 8 rental, verify that the property meets the Housing Quality Standards (HQS) set by the U.S. Department of Housing and Urban Development (HUD). These standards ensure that the property is safe, decent, and sanitary, and they must be met for eligibility in the program. This verification is crucial because failing to meet HQS can result in penalties and loss of voucher assistance.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.