Location: Cape Coral-Fort Myers, FL | Metro: Cape Coral-Fort Myers, FL MSA
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 | $1,570 |
| 1 Bedroom | $1,580 |
| 2 Bedrooms | $1,850 |
| 3 Bedrooms | $2,390 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,580 | $95,681 | 1.65% | A+ |
| 2BR | $1,850 | $148,792 | 1.24% | A |
| 3BR | $2,390 | $283,086 | 0.84% | C |
| 4BR | $2,640 | $444,523 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 33907 in Fort Myers, FL, is predominantly a renter-heavy area with significant voucher demand. With a population of 25,033, 52.7% of residents are renters, indicating a strong rental market. The median household income in this ZIP code is $52,478, which places it below the national average and suggests that many tenants will rely on subsidies to afford housing.
A typical market rent of $1,333 consumes a substantial portion of the local income. Specifically, it represents approximately 25.4% of the median annual household income, making it a challenging expense for many residents. This figure is lower than the Fair Market Rent (FMR) set at $1,700 for FY 2024, suggesting that landlords who can offer units at the market rate of $1,333 may attract a larger pool of tenants, including those with vouchers.
The high percentage of renters and the relatively low median income indicate that landlords in ZIP 33907 should expect a tenant pool that heavily relies on Section 8 vouchers. Tenants will likely be families with children, individuals with disabilities, or elderly persons who qualify for housing assistance due to their limited financial resources. These tenants often have stable incomes from government programs such as Social Security Disability Insurance (SSDI), Supplemental Security Income (SSI), or Temporary Assistance for Needy Families (TANF).
To summarize, ZIP 33907 is an ideal location for landlords and small-portfolio investors looking to tap into a robust rental market with a significant number of voucher holders. The typical rent eats up a quarter of the median income, making affordable housing a priority for many. Landlords should prepare for tenants who need housing assistance and ensure compliance with HUD regulations.
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.