Location: Monroe County, FL | Metro: Monroe County, FL
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,570 |
| 1 Bedroom | $2,030 |
| 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 |
The Fair Market Rent for ZIP 33052 in the metro area for fiscal year 2026 is set at $2,500. This figure represents the maximum amount that a household receiving a housing voucher should pay towards their rent. However, without the specific median income and market rate rent figures for the area, it's challenging to provide a direct comparison. Typically, households are considered able to afford housing if they spend no more than 30% of their income on rent.
Given the N/A median income, it's unclear whether a household in ZIP 33052 can comfortably cover the market rate rent. If the market rate exceeds $2,500, then households relying solely on vouchers would struggle to find affordable options. This creates a significant affordability gap for renters who might have to seek additional financial resources or compromise on living conditions.
The affordability gap also impacts landlord competition. With a high percentage of renters and a limited number of units that meet the FMR criteria, landlords may face challenges in attracting tenants who are fully covered by vouchers. This could lead to a scenario where landlords must choose between accepting voucher payments or focusing on cash-paying tenants who might be willing to pay higher rents.
Takeaway: Landlords considering strategies for ZIP 33052 should carefully evaluate the local rental market. Accepting voucher payments could help secure steady tenancy but might limit potential rental income. On the other hand, targeting cash-paying tenants could yield higher returns but requires a thorough understanding of the area's economic dynamics and renter preferences.
Data Sources: FMR data from HUD (2027).
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.