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 | $1,870 |
| 1 Bedroom | $2,030 |
| 2 Bedrooms | $2,450 |
| 3 Bedrooms | $3,130 |
| 4 Bedrooms | $3,580 |
| 5 Bedrooms | $4,153 |
| 6 Bedrooms | $4,651 |
| 7 Bedrooms | $5,023 |
| 8 Bedrooms | $5,274 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,030 | $183,970 | 1.1% | B |
| 2BR | $2,450 | $315,947 | 0.78% | D |
| 3BR | $3,130 | $756,507 | 0.41% | F |
| 4BR | $3,580 | $2,545,354 | 0.14% | F |
| 5BR | $4,153 | $4,143,858 | 0.1% | F |
U.S. Census Bureau data (2024)
The dynamics of the ZIP code 33181, located in North Miami, Florida, reveal a market in motion. The Fair Market Rent (FMR) for ZIP 33181 in fiscal year 2024 is set at $2,110, while the actual market rent, as indicated by Zillow's ZORI index, stands at $2,353. This suggests that rental prices in the area are slightly above what is considered fair market value, indicating a robust demand for rentals.
A 0.2% price-cut share indicates that very few listings are being discounted, which typically points towards a seller's market where demand is high enough to sustain asking prices without significant adjustments. The days on market (DOM) figure of 99 days also supports this view, showing that homes are selling relatively quickly compared to national averages, where DOM can often exceed 100 days.
The median home value in ZIP 33181 is $319,329. This figure places it within a range that is attractive to both first-time buyers and investors looking for affordable entry points into the North Miami real estate market. However, the strong rental market dynamics suggest that many potential buyers are choosing to rent rather than purchase, possibly due to financial constraints or a preference for flexibility.
A key factor influencing the housing dynamics is the 62.4% renter share. This high percentage of renters implies long-term housing pressure, as a majority of residents are not homeowners. It signals a consistent demand for rental properties, which could be driven by factors such as affordability, job mobility, or lifestyle choices. For landlords and small-portfolio investors, this high renter share means a steady pool of tenants, but it also suggests that competition for rental properties is likely to remain intense.
In summary, ZIP 33181 presents a market where demand appears to be pacing or slightly outpacing supply, particularly in the rental sector. The high renter share and slight premium over FMR in market rents point to ongoing housing pressure and a favorable environment for those invested in rental properties.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.