Location: Miami-Miami Beach-Kendall, FL | Metro: Miami-Miami Beach-Kendall, FL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,950 |
| 1 Bedroom | $2,120 |
| 2 Bedrooms | $2,560 |
| 3 Bedrooms | $3,270 |
| 4 Bedrooms | $3,740 |
| 5 Bedrooms | $4,338 |
| 6 Bedrooms | $4,859 |
| 7 Bedrooms | $5,248 |
| 8 Bedrooms | $5,510 |
The analysis of ZIP 33090 in Miami, FL, reveals a unique market situation when classified on the axes of yield and stability. The Fair Market Rent (FMR) for the area in fiscal year 2024 is $2320. However, the absence of comparable market rent and home value figures makes it challenging to determine the exact yield potential. Nonetheless, the high FMR suggests a robust demand for affordable housing, indicative of a potentially high-yield market.
Regarding stability, the lack of data on the percentage of renters, average days on market (DOM), and median income means we cannot conclusively assess the stability of the rental market. Without these figures, it is difficult to predict how consistent the cash flow might be from month to month. However, the high FMR indicates strong government support through housing assistance programs, which could provide some level of stability.
Based on the available information, ZIP 33090 leans towards being a high-yield/medium-stability market. The high FMR supports a significant rental income, particularly for properties eligible for Section 8 subsidies. However, without comprehensive market data, the stability remains uncertain. Investors should consider diversifying their portfolios and closely monitoring local trends to mitigate risk.
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.