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 ZIP code 33152 in Florida is characterized by a significant presence of renters, although the exact percentage and population size are not available. This suggests a potential for strong demand for rental properties among tenants utilizing Section 8 vouchers. Without specific data on the percentage of renters, it's prudent to assume that the area leans towards a renter-heavy environment given the context of Section 8 analysis.
Median household income data for this ZIP code is also unavailable, which makes it challenging to provide a precise comparison between local income levels and market rents. However, we can infer that the financial situation of residents is likely below average, considering the reliance on Section 8 housing assistance.
The Fair Market Rent (FMR) for ZIP 33152 is set at $2320 per month for FY 2024. While specific market rent figures are not provided, we can use the FMR as a benchmark to understand the affordability of housing for low-income families. If the typical market rent aligns closely with the FMR, then it would represent a substantial portion of local incomes, assuming those incomes are lower than the state or national averages.
To illustrate the impact on potential tenants, if the median household income were hypothetically $1800 (a figure often seen in areas with high voucher usage), the FMR of $2320 would consume over 128% of their monthly income. This highlights the critical role that Section 8 vouchers play in enabling access to housing in this ZIP code.
Landlords in ZIP 33152 should anticipate a tenant pool primarily composed of individuals and families who rely heavily on government subsidies to cover their housing costs. These tenants are likely to have lower incomes and will be seeking affordable housing options that are within their budget constraints. It is essential for landlords to familiarize themselves with the requirements and regulations associated with accepting Section 8 vouchers, as this will be a key factor in attracting and retaining tenants in this market.
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.