Location: Miami-Miami Beach-Kendall, FL | Metro: Miami-Miami Beach-Kendall, 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 | $1,560 |
| 1 Bedroom | $1,700 |
| 2 Bedrooms | $2,050 |
| 3 Bedrooms | $2,620 |
| 4 Bedrooms | $3,000 |
| 5 Bedrooms | $3,480 |
| 6 Bedrooms | $3,898 |
| 7 Bedrooms | $4,210 |
| 8 Bedrooms | $4,421 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,050 | $371,411 | 0.55% | F |
| 3BR | $2,620 | $468,788 | 0.56% | F |
| 4BR | $3,000 | $647,799 | 0.46% | F |
| 5BR | $3,480 | $872,983 | 0.4% | F |
U.S. Census Bureau data (2024)
1840 is the Fair Market Rent (FMR) for ZIP code 33030 in Homestead, Florida, for fiscal year 2024, set by HUD. 2401 is the Zillow Observed Rent Index (ZORI), reflecting the average market rent in the area. The median home value stands at 510,297, indicating a significant investment opportunity for homeowners. With 56.4% of the population renting, there's a substantial demand for rental properties in Homestead. The median income of 46,202 suggests that many residents rely on assistance programs like Section 8 to afford housing. A 98-day Days on Market (DOM) average indicates that rental listings take nearly three months to find tenants, highlighting the competitive nature of the market. The 0.2% price-cut share shows that landlords rarely need to reduce rents to attract tenants, maintaining profitability. Given these figures, landlords and small-portfolio investors should consider the strong potential for Section 8 participation in ZIP 33030, as it aligns well with the local income levels and renter demographics.
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.