Section 8 Fair Market Rent (FMR) for ZIP 33146 - 2027

Location: Miami-Miami Beach-Kendall, FL | Metro: Miami-Miami Beach-Kendall, FL HUD Metro FMR Area

Investment Score for ZIP 33146

Monthly Rent (2BR)

$3,850

Median Price (2BR)

$695,694

1% Rule

0.55%

Annual Yield

6.64%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,930
1 Bedroom	$3,190
2 Bedrooms	$3,850
3 Bedrooms	$4,920
4 Bedrooms	$5,630
5 Bedrooms	$6,531
6 Bedrooms	$7,315
7 Bedrooms	$7,900
8 Bedrooms	$8,295

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$3,190	$339,475	0.94%	C
2BR	$3,850	$695,694	0.55%	F
3BR	$4,920	$1,878,700	0.26%	F
4BR	$5,630	$2,640,193	0.21%	F
5BR	$6,531	$4,149,374	0.16%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

19,052

Median Household Income

$131,500

Housing Units

6,937

Renter Percentage

41.5%

Occupancy Rate

87.0%

Renter Occupied

2,506

Coral Gables, located in ZIP code 33146, is a prestigious residential suburb of Miami known for its upscale living, historic architecture, and vibrant community life. This analysis will provide key insights into the rental market dynamics, home values, and economic conditions that are crucial for landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP 33146 in fiscal year 2024 is set at $3,490.
The market rent, as indicated by the Zillow Observed Rental Index (ZORI), stands at $3,539.
The median home value in Coral Gables is $1,867,124, reflecting the high-end nature of the real estate market.
Renters make up 41.5% of the housing market, indicating a significant demand for rental properties.
The median household income in the area is $131,500, suggesting a strong financial base for potential tenants.

The data points indicate that the rental market in Coral Gables is robust, with fair market rents closely aligning with actual market rents. The high median home value underscores the desirability of the area, while the substantial renter share suggests ongoing demand for rental properties. Given the strong median income, landlords can expect stable cash flows and low vacancy rates. These factors collectively present a favorable investment climate for those looking to enter or expand their presence in the Coral Gables rental market.

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.