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 | $2,930 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,190 | $284,268 | 1.12% | B |
| 2BR | $3,850 | $404,625 | 0.95% | C |
| 3BR | $4,920 | $602,740 | 0.82% | C |
| 4BR | $5,630 | $755,124 | 0.75% | D |
| 5BR | $6,531 | $904,188 | 0.72% | D |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 33185, Florida, suggests a market poised for stability rather than rapid change over the next 12 to 24 months. With a median home value of $672,174, the area is already commanding a premium price point. The fact that only 0.2% of listings have been reduced indicates a strong seller's market where homeowners are maintaining their asking prices, reflecting a high level of confidence in the local property values.
The median days on market (DOM) being listed as N/A could imply either very quick sales or an insufficient number of recent transactions to calculate an average. Either way, it aligns with the notion of a robust market where homes are selling at or near their asking prices without extended periods of exposure.
On the rental side, the Federal Market Rent (FMR) for ZIP 33185 is projected at $3,490 for fiscal year 2024, while the Zillow Observed Rent Index (ZORI) currently stands at $3,689. This gap signals that the market rents are slightly higher than the government's benchmark, suggesting landlords can maintain or even slightly increase rents without losing tenants.
For long-hold investors, the setup implies a scenario where appreciation will likely be modest. The market conditions indicate that there is little pressure from new inventory or significant price reductions, which could otherwise drive down prices. However, the relatively small percentage of listings being reduced also means that there isn't a strong upward pressure on home values. Investors should anticipate steady growth rather than exponential increases in property values.
Summarizing, ZIP 33185 presents a balanced environment where pricing power remains with sellers and landlords can leverage their position to maintain rent levels above the FMR. For those looking to hold properties long-term, the expectation is for stable, gradual appreciation rather than dramatic shifts in value.
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.