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 | $2,210 |
| 1 Bedroom | $2,400 |
| 2 Bedrooms | $2,900 |
| 3 Bedrooms | $3,710 |
| 4 Bedrooms | $4,240 |
| 5 Bedrooms | $4,918 |
| 6 Bedrooms | $5,508 |
| 7 Bedrooms | $5,949 |
| 8 Bedrooms | $6,246 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,400 | $266,958 | 0.9% | C |
| 2BR | $2,900 | $477,569 | 0.61% | D |
| 3BR | $3,710 | $1,314,687 | 0.28% | F |
| 4BR | $4,240 | $2,564,258 | 0.17% | F |
| 5BR | $4,918 | $6,088,465 | 0.08% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 33141 in Miami Beach, Florida, for fiscal year 2024 is set at $2,650. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, but it does not necessarily mean that you will receive this amount. The actual rent paid to you by the Housing Authority will be based on the specific tenant's income and other factors, not the FMR.
In comparison, the local market rent for a similar property in ZIP 33141 is estimated at $2,417, which is the Zillow Observed Rental Index (ZORI). This suggests that the FMR is slightly above the average market rate, potentially making your property more attractive to tenants seeking Section 8 assistance.
The demand for rental properties in this area is strong, with approximately 62.5% of residents being renters. This high percentage indicates a robust rental market, where many people rely on rental housing, including those who might benefit from Section 8 subsidies. Given the local median home value of $414,709, it is clear that owning a home is out of reach for many residents, increasing the likelihood that they will seek affordable rental options through programs like Section 8.
Before committing to a Section 8 rental, ensure that your property meets all the necessary requirements for the program, including safety, health, and habitability standards. These are essential to qualify for the subsidy and avoid potential issues with the Housing Authority.
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.