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 | $2,250 |
| 1 Bedroom | $2,440 |
| 2 Bedrooms | $2,950 |
| 3 Bedrooms | $3,770 |
| 4 Bedrooms | $4,310 |
| 5 Bedrooms | $5,000 |
| 6 Bedrooms | $5,600 |
| 7 Bedrooms | $6,048 |
| 8 Bedrooms | $6,350 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,440 | $219,886 | 1.11% | B |
| 2BR | $2,950 | $279,364 | 1.06% | B |
| 3BR | $3,770 | $372,231 | 1.01% | B |
| 4BR | $4,310 | $760,764 | 0.57% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 33172, which includes Fountainbleau, Florida, is set at $2,640 for fiscal year 2024. This figure represents the payment standard set by the U.S. Department of Housing and Urban Development (HUD) for Section 8 housing assistance. It does not mean you will receive $2,640 as rent; instead, it's the maximum amount HUD will pay on behalf of eligible tenants.
In comparison, the local market rent, known as the ZORI (Zillow Observed Rental Index), stands at $2,421. This indicates that the FMR is slightly higher than the average market rent, which can be beneficial for landlords participating in the Section 8 program. The difference between the FMR and ZORI suggests there might be a slight premium for Section 8 units, making it potentially more attractive than market-rate rentals.
The 56.1% renter share in ZIP 33172 shows that over half of the households in the area are renters, indicating strong demand for rental properties. This high percentage of renters can be seen as a positive sign for potential landlords, as it suggests a robust tenant pool. However, it also implies competition among landlords for tenants.
The median home value in the area is around $300,849, which can give you an idea of the acquisition cost if you're looking to buy a property for your first Section 8 rental. Given the median home value, it's important to ensure that the property meets all the necessary requirements for the Section 8 program to avoid costly renovations post-purchase.
Before proceeding with your first Section 8 rental in ZIP 33172, verify that the property meets HUD’s minimum housing quality standards. These standards ensure that the property is safe, decent, and sanitary for tenants. A thorough inspection can prevent future disputes and ensure compliance with the program's regulations.
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.