Section 8 Fair Market Rent (FMR) for ZIP 33242 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 33242, located in Florida, presents a unique rental market scenario for landlords and small-portfolio investors. The area is characterized by its blend of urban convenience and suburban comfort, offering a variety of living options to residents. This analysis will provide insights into the key metrics that influence investment decisions, such as Fair Market Rent (FMR), median home values, and other pertinent housing statistics.

• Fair Market Rent (FMR) for ZIP 33242 in fiscal year 2024: The FMR for a two-bedroom apartment is set at $2320, providing a benchmark for rental pricing.
• Market Rent: Data on the current market rent for ZIP 33242 is currently unavailable, indicating a need for further research to understand actual rental rates.
• Median Home Value: Similarly, the median home value for this ZIP code is not available, which suggests a focus on the rental market rather than the sale of homes.
• Renter Share: The percentage of residents who are renters in ZIP 33242 is also not provided, making it difficult to assess the demand for rental properties specifically.
• Days on Market (DOM): Information regarding the average number of days a property stays on the market before being rented is not available, which could be critical for understanding the speed of transactions in this area.
• Median Income: The median income figure for ZIP 33242 is not available, which is important for gauging the financial capability of potential tenants.

In summary, while the Fair Market Rent provides a solid baseline for setting rental prices, the lack of current market data—such as specific market rents, median home values, and median income—limits a comprehensive analysis. Investors should conduct thorough local research to fill these gaps and make informed decisions. Despite the missing data points, the established FMR suggests that there is a stable rental price point for two-bedroom units in the area, which can serve as a starting point for investment strategies.

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.