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 | $2,400 |
| 1 Bedroom | $2,610 |
| 2 Bedrooms | $3,150 |
| 3 Bedrooms | $4,030 |
| 4 Bedrooms | $4,610 |
| 5 Bedrooms | $5,348 |
| 6 Bedrooms | $5,990 |
| 7 Bedrooms | $6,469 |
| 8 Bedrooms | $6,792 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,610 | $419,904 | 0.62% | D |
| 2BR | $3,150 | $987,402 | 0.32% | F |
| 3BR | $4,030 | $1,729,207 | 0.23% | F |
| 4BR | $4,610 | $2,913,342 | 0.16% | F |
| 5BR | $5,348 | $5,120,501 | 0.1% | F |
U.S. Census Bureau data (2024)
The dynamics of ZIP 33133 in Miami, FL, paint a picture of a market in motion, characterized by a strong rental sector and significant home values. The Fair Market Rent (FMR) for the area stands at $2,500 for fiscal year 2024, while the Zillow Observed Rent Index (ZORI) indicates a higher market rent of $3,612. This suggests that the rental market is robust and commands a premium above the government's fair market assessment.
The 0.2% price-cut share reflects a highly competitive rental environment where landlords are less inclined to lower their asking rents, indicating strong demand for rental properties. Meanwhile, the days on market (DOM) for homes is 80 days, which is relatively low, pointing towards a steady absorption rate for sales listings. The median home value of $1,294,371 underscores the high-end nature of the residential real estate in this ZIP code, suggesting a healthy demand among homeowners who can afford such prices.
A key indicator of the market's trajectory is the 47.5% renter share, which is notably high. This implies that a significant portion of the population prefers or requires renting over owning, likely due to factors such as affordability, lifestyle choices, or the transient nature of the area. High renter share often correlates with long-term housing pressure, as it signals an ongoing need for rental properties that may persist even as market conditions change.
In summary, ZIP 33133 presents a scenario where demand appears to be pacing with, if not slightly outstripping, supply, particularly in the rental sector. The interplay between high market rents, low price-cut share, and a substantial renter share suggests a market that is resilient and continuously evolving, driven by both renters and homeowners.
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.