Location: Monroe County, FL | Metro: Monroe County, FL
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 | $1,990 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,990 | $398,662 | 0.5% | F |
| 2BR | $2,260 | $661,303 | 0.34% | F |
| 3BR | $2,980 | $1,133,892 | 0.26% | F |
| 4BR | $2,990 | $1,793,225 | 0.17% | F |
| 5BR | $3,468 | $3,140,160 | 0.11% | F |
U.S. Census Bureau data (2024)
The ZIP code 33070 in Florida presents several challenges for potential Section 8 landlords. Tenant turnover is a significant concern, with the market rent at $3,600 being notably higher than the Fair Market Rent (FMR) of $2,330 for FY 2026 in the metropolitan area. This disparity suggests that tenants might struggle to cover the difference between their voucher amount and the actual rent, leading to frequent turnover and instability.
Vacancy exposure is another critical issue. With the days on market (DOM) being N/A, it's unclear how long properties might remain vacant. However, given the higher market rents compared to the FMR, there is a risk that properties could face prolonged vacancies if they are priced above the voucher limits. This can be financially detrimental as landlords would need to cover maintenance and other costs without rental income.
The deferred-maintenance exposure is also substantial. The typical home value in ZIP 33070 is $904,671, while the median income stands at $75,436. This indicates that many residents might find it challenging to afford the upkeep of their homes, potentially leading to higher maintenance costs for landlords who must ensure their properties meet the standards required by the Section 8 program.
Despite these risks, there is a strong argument in favor of investing in this ZIP code. The renter share is 18.3%, which is relatively high, suggesting a robust demand for rental housing. High renter density often correlates with higher demand for Section 8 vouchers, meaning that landlords are likely to have a pool of qualified tenants eager to occupy their properties. This can mitigate the risk of vacancy and provide a steady stream of tenants who are committed to maintaining their living spaces.
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.