Section 8 Fair Market Rent (FMR) for ZIP 33255 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 33255 is located in Miami, FL, representing a thriving suburban community with approximately 43,255 residents. This working-class area is characterized by an affordable housing market, with median home values around $193,502 and a median household income of $48,255.

Section 8 investors should note that the Fair Market Rent (FMR) for ZIP 33255 in fiscal year 2024 is set at $2,320. In contrast, the median rent in the area is $1,340, indicating a significant gap between the two figures. This suggests that there could be substantial opportunities for landlords who are willing to participate in the Section 8 program.

The place fits well for both hands-off voucher operators and hands-on value-add buyers. Hands-off operators can capitalize on the discrepancy between FMR and actual rents, while hands-on buyers might find room for improvement in properties that could command closer to the FMR once renovated or upgraded.

Actionable Insights:

• The median household income in 33255 is $48,255, which is 100% higher than the state average, indicating an affluent area relative to Florida.
• Home values are also 100.5% higher than the state average, suggesting a competitive real estate market.
• The median rent being significantly lower than the FMR presents an opportunity for landlords to receive higher subsidies through the Section 8 program.

Overall, the data paints a picture of a growing, dynamic community where Section 8 investment can be profitable for both passive and active investors.

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.