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 | $2,080 |
| 1 Bedroom | $2,260 |
| 2 Bedrooms | $2,730 |
| 3 Bedrooms | $3,490 |
| 4 Bedrooms | $3,990 |
| 5 Bedrooms | $4,628 |
| 6 Bedrooms | $5,183 |
| 7 Bedrooms | $5,598 |
| 8 Bedrooms | $5,878 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,260 | $199,108 | 1.14% | B |
| 2BR | $2,730 | $301,151 | 0.91% | C |
| 3BR | $3,490 | $468,464 | 0.74% | D |
| 4BR | $3,990 | $767,163 | 0.52% | F |
| 5BR | $4,628 | $1,441,159 | 0.32% | F |
U.S. Census Bureau data (2024)
The ZIP code 33183 in Miami, FL, stands as a market in constant motion, characterized by a delicate balance between supply and demand. The Fair Market Rent (FMR) for the area is set at $2470 for the fiscal year 2024, closely aligning with the market rent of $2,529 as indicated by ZORI. This suggests that rental prices are reflective of the economic realities and expectations within the region.
A key indicator of the market's dynamics is the price-cut share, which is currently at 0.2%. This figure points to a scenario where landlords and property owners have little need to reduce their asking prices, implying strong demand relative to supply. The days on market (DOM) statistic, standing at 45 days, further reinforces this point. It indicates that properties are selling relatively quickly, suggesting a robust buyer interest.
The median home value in ZIP 33183 is $397,321. This valuation provides insight into the overall affordability and desirability of homeownership in the area. Given the strong rental market and low price-cut share, it's reasonable to infer that the demand for both rentals and purchases is high, creating a competitive environment for buyers and tenants alike.
The 32.1% renter share is significant. It reveals that a substantial portion of the population opts for renting over purchasing. This trend can be indicative of several factors: potential financial constraints, transient demographics, or a preference for flexibility. Regardless of the reasons, a high renter share typically translates into sustained long-term housing pressure. Landlords and small-portfolio investors should take note of this dynamic, as it suggests a steady demand for rental properties in the foreseeable future.
In summary, ZIP 33183 presents a market where demand is likely keeping pace with or slightly outstripping supply, evidenced by the low price-cut share and quick DOM times. The high median home value and strong rental market indicate a vibrant real estate sector. The significant renter share underscores the enduring need for rental properties, making this an attractive area for those invested in or considering entering the 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.