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 analysis of ZIP code 33239 in the Miami-Miami Beach-Kendall, FL HUD Metro FMR Area reveals several key points that are essential for landlords and small-portfolio investors.
Regarding the rent math, the Family Monthly Rent (FMR) for the zip code in fiscal year 2024 is set at $2320. However, the market rent for the area is currently not available, which makes it difficult to directly compare and determine if the rent math works based on current market conditions. Landlords should be cautious and consider additional sources of information to validate this figure against actual rental rates.
On the topic of acquisition affordability, the median home value in the area is not specified, nor is the number of days on the market (DOM) or the percentage of homes that have undergone price reductions. Without these figures, it's challenging to assess the ease or difficulty of acquiring properties at affordable prices. Investors must look into other indicators such as property listings and recent sales data to gauge affordability.
Concerning tenant demand, the population and the percentage of renters in the area are also unspecified. This lack of data means we cannot provide a definitive assessment of how many potential tenants might be looking for rental housing. To make an informed decision, investors need to research local demographics and housing trends independently.
Verdict: While the Family Monthly Rent (FMR) for ZIP 33239 is established at $2320 for FY 2024, the absence of specific data regarding market rent, median home values, days on the market, price-cut shares, population, and renter percentages hinders a comprehensive analysis. Landlords and investors should seek out additional resources to fill in these gaps before making investment decisions. The viability of the rent math, acquisition costs, and tenant demand will depend heavily on the actual market conditions, which require further investigation.
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.