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 | $2,670 |
| 1 Bedroom | $2,900 |
| 2 Bedrooms | $3,500 |
| 3 Bedrooms | $4,470 |
| 4 Bedrooms | $5,120 |
| 5 Bedrooms | $5,939 |
| 6 Bedrooms | $6,652 |
| 7 Bedrooms | $7,184 |
| 8 Bedrooms | $7,543 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 5BR | $5,939 | $1,761,712 | 0.34% | F |
U.S. Census Bureau data (2024)
The ZIP code 33122 presents several challenges for potential Section 8 landlords. Firstly, tenant turnover could be an issue due to the significant gap between the market rent of $2,760 and the Fair Market Rent (FMR) of $3,490 for FY 2024. This difference suggests that tenants may struggle to find alternative housing if their circumstances change, leading to frequent moves. Secondly, there is a notable exposure to vacancies because the average days on market (DOM) is not available, which can indicate unpredictability in rental demand. Lastly, the risk of deferred maintenance is elevated given the typical home value of $1,528,877 and the median income of $99,583. The disparity between property values and incomes implies that residents might prioritize other expenses over timely repairs and maintenance.
However, these risks must be weighed against the substantial 96.3% renter share in ZIP 33122. High renter density typically translates into higher demand for housing vouchers, which can stabilize occupancy rates and reduce the likelihood of extended vacancy periods. Additionally, the robust presence of renters can ensure a steady stream of potential tenants who are interested in affordable housing options, such as those provided through Section 8.
In conclusion, despite the challenges, the high renter density and strong demand for affordable housing make ZIP 33122 a moderate risk area for first-time Section 8 landlords.
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.