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 | $2,070 |
| 1 Bedroom | $2,250 |
| 2 Bedrooms | $2,720 |
| 3 Bedrooms | $3,480 |
| 4 Bedrooms | $3,980 |
| 5 Bedrooms | $4,617 |
| 6 Bedrooms | $5,171 |
| 7 Bedrooms | $5,585 |
| 8 Bedrooms | $5,864 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,720 | $201,957 | 1.35% | A |
| 3BR | $3,480 | $335,315 | 1.04% | B |
| 4BR | $3,980 | $425,445 | 0.94% | C |
U.S. Census Bureau data (2024)
The potential pitfalls of investing in ZIP 33035 under the Section 8 program are significant. Tenant turnover poses a substantial challenge, with the market rent at $2,197 falling below the Fair Market Rent (FMR) of $2,570 for FY 2024. This discrepancy can lead to financial strain on landlords who must adjust their rents to match the FMR, potentially causing higher turnover rates among tenants who cannot afford the increase.
Vacancy exposure is another critical issue. The Days on Market (DOM) average of 113 days suggests that properties may remain vacant for extended periods, leading to lost rental income. In ZIP 33035, where the typical home value is $338,329 and the median income is $68,354, landlords face the risk of deferred maintenance. These figures indicate that homeowners may struggle to keep up with necessary repairs and improvements, which could impact the overall condition of the property and its ability to attract and retain tenants.
Despite these challenges, there are compelling reasons to consider Section 8 investments in ZIP 33035. The high renter share of 49.5% points to a robust demand for rental housing, which often translates into a greater number of tenants with Section 8 vouchers. This high density of renters typically ensures a steady stream of qualified applicants, mitigating some of the risks associated with vacancy and turnover.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.