Location: Miami-Miami Beach-Kendall, FL | Metro: Fort Lauderdale, FL HUD Metro FMR Area
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 | $1,520 |
| 1 Bedroom | $1,650 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,770 |
| 4 Bedrooms | $3,280 |
| 5 Bedrooms | $3,805 |
| 6 Bedrooms | $4,262 |
| 7 Bedrooms | $4,603 |
| 8 Bedrooms | $4,833 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,650 | $156,146 | 1.06% | B |
| 2BR | $2,010 | $385,242 | 0.52% | F |
| 3BR | $2,770 | $482,285 | 0.57% | F |
| 4BR | $3,280 | $533,461 | 0.61% | D |
| 5BR | $3,805 | $558,048 | 0.68% | D |
U.S. Census Bureau data (2024)
Miramar’s 33023 ZIP code offers a suburban environment characterized by quiet, tree-lined neighborhoods and a strong sense of community. Situated in Broward County, this area appeals to families due to its blend of residential tranquility and proximity to major employment hubs. The presence of Memorial Healthcare System’s Miramar facility serves as a significant local employer, providing stable jobs and supporting the surrounding service economy. The neighborhood is primarily residential with well-maintained single-family homes and townhouses, attracting long-term residents who value the area’s accessibility to both Miami and Fort Lauderdale.
From a financial perspective, investors face a distinct pricing pressure in this market. The HUD Fair Market Rent (FMR) for a 2-bedroom unit is $2,230, but the current market rent (Zillow ZORI) sits higher at $2,401, creating a gap of $171 that landlords must absorb when accepting vouchers. The median home value is $450,415, with a specific median 2BR sales price of $379,870. Properties here are not moving rapidly, as indicated by a median of 77 days on market. Consequently, voucher tenants do not immediately cash-flow at market rates without careful acquisition pricing, though the HUD payments remain consistent.
Demand is underpinned by a solid demographic foundation. With a renter share of 34.7% and a median household income of $74,709, the area hosts a population that can generally afford stable housing, yet the rental market remains active. This income level suggests that voucher holders often have additional resources to supplement the subsidy, potentially reducing financial risk. The neighborhood’s draw is further bolstered by access to reputable schools within the Broward County Public School system and local parks, which sustain a steady pool of applicants seeking quality rental options.
The strongest investor angle in 33023 is stability. The high median income and moderate renter share point toward a tenant base that values tenure over transience. While the immediate gap between FMR and market rent suggests lower initial yields, the 77-day liquidity window implies that once a quality tenant is placed, turnover costs are minimized. For investors prioritizing consistent occupancy and lower vacancy rates over maximum immediate leverage, Miramar offers a reliable, lower-volatility environment for Section 8 portfolios.
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.