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 | $1,860 |
| 1 Bedroom | $2,020 |
| 2 Bedrooms | $2,440 |
| 3 Bedrooms | $3,120 |
| 4 Bedrooms | $3,570 |
| 5 Bedrooms | $4,141 |
| 6 Bedrooms | $4,638 |
| 7 Bedrooms | $5,009 |
| 8 Bedrooms | $5,259 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,440 | $372,629 | 0.65% | D |
| 3BR | $3,120 | $473,494 | 0.66% | D |
| 4BR | $3,570 | $522,912 | 0.68% | D |
| 5BR | $4,141 | $608,498 | 0.68% | D |
U.S. Census Bureau data (2024)
ZIP code 33056 is situated in the heart of Miami Gardens, Florida, a vibrant suburban area that boasts a diverse and dynamic community. With a total population of 37,890, it stands out as a neighborhood where nearly 38% of residents are renters, indicating a strong demand for rental properties. The median household income in this zip code is $68,583, reflecting a middle-class demographic that can support various types of housing needs. The median home value is $477,287, which suggests a mix of affordable and moderately priced homes, making it an attractive location for both families and individuals.
The economic landscape of ZIP 33056 is particularly interesting when it comes to rental markets. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $2,320, which is significantly lower than the market rent of $2,873, as indicated by the Zillow Observed Rent Index (ZORI). This disparity presents a unique opportunity for investors to capitalize on the higher market rents while still being eligible for Section 8 subsidies. Landlords and small-portfolio investors can leverage this gap to achieve positive cash flow and potentially higher returns on investment.
Given these factors, ZIP 33056 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the existing demand for subsidized housing and the alignment between FMR and Section 8 payment standards make it an ideal location. The potential for steady, reliable income without the need for extensive property management is evident. On the other hand, value-add buyers can benefit from the discrepancy between FMR and market rent. By investing in property improvements and increasing their rental rates closer to the market level, they can maximize their profits while still maintaining eligibility for Section 8 tenants. The combination of a growing rental market and a stable income source makes ZIP 33056 a compelling investment opportunity for real estate investors looking to enter the Miami Gardens market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.