Section 8 Fair Market Rent (FMR) for ZIP 33013 - 2027
Location: Miami-Miami Beach-Kendall, FL | Metro: Miami-Miami Beach-Kendall, FL HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,730 |
| 1 Bedroom | $1,880 |
| 2 Bedrooms | $2,270 |
| 3 Bedrooms | $2,900 |
| 4 Bedrooms | $3,320 |
| 5 Bedrooms | $3,851 |
| 6 Bedrooms | $4,313 |
| 7 Bedrooms | $4,658 |
| 8 Bedrooms | $4,891 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$60,658
Housing Authorities Serving ZIP 33013
- MIAMI DADE HOUSING AND COMMUNITY DEV (Miami, FL) - 21,718 Section 8 vouchers
- HIALEAH HOUSING AUTHORITY (Hialeah, FL) - 5,890 Section 8 vouchers
- HOUSING AUTHORITY OF THE CITY OF MIAMI BEACH (Miami Beach, FL) - 3,576 Section 8 vouchers
- HOUSING AUTHORITY OF THE CITY OF HOMESTEAD (Homestead, FL) - 1,939 Section 8 vouchers
- MIAMI HSG CONSERVATION (Miami, FL) - 408 Section 8 vouchers
- Carrfour Supportive Housing, Inc. (Miami, FL) - 180 Section 8 vouchers
To determine if you should buy in ZIP code 33013 (Hialeah, FL) for Section 8 investment, follow this decision tree:
- Does the Fair Market Rent (FMR) of $1970 cover the debt service on a property valued at $562,931?
- If your debt service (including mortgage, taxes, insurance, and maintenance) is less than $1970 per month, then the answer is Yes. This means that the rental income from a Section 8 tenant would be sufficient to cover your monthly expenses.
- If your debt service exceeds $1970 per month, then the answer is No. The FMR does not provide enough income to cover the costs associated with owning the property.
- Is the market rent ($2,543 ZORI) above, at, or below the FMR?
- If the ZORI ($2,543) is higher than the FMR ($1970), then the answer is It depends. While the market rent is higher, you must consider if the difference justifies the restrictions and management of a Section 8 property.
- If the ZORI is lower than the FMR, then the answer is No. There is no advantage to accepting market rent over the guaranteed FMR for Section 8 properties.
- Are there enough renters and days on the market (DOM) to support demand?
- The 40.5% renter rate indicates a moderate level of demand for rental properties. However, since the DOM (days on the market) is listed as N/A, we cannot definitively assess how quickly properties are being rented out. This makes the answer It depends.
- To make an informed decision, you will need to research local rental vacancy rates and trends. If vacancies are low and properties are renting quickly, then demand is likely strong enough to support a Section 8 investment.
In summary, the key factors in deciding whether to invest in ZIP 33013 for Section 8 are the coverage of your debt service by the FMR, the comparison between market rent and FMR, and the strength of rental demand. With an FMR of $1970 and a ZORI of $2,543, the decision hinges on your specific financial situation and the local rental market conditions.
Data Sources: FMR data from HUD (2027). 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.