Location: Punta Gorda, FL | Metro: Punta Gorda, 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 | $1,100 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,930 |
| 4 Bedrooms | $2,200 |
| 5 Bedrooms | $2,552 |
| 6 Bedrooms | $2,858 |
| 7 Bedrooms | $3,087 |
| 8 Bedrooms | $3,241 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,110 | $215,532 | 0.52% | F |
| 2BR | $1,390 | $392,924 | 0.35% | F |
| 3BR | $1,930 | $596,206 | 0.32% | F |
| 4BR | $2,200 | $975,736 | 0.23% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP 33946, which covers Port Charlotte, FL, in Charlotte County, are defined by the Specific Area Fair Market Rent (SAFMR) for a two-bedroom unit at $1720 per month for fiscal year 2024. This SAFMR is specifically set for this ZIP code, reflecting the unique cost structure of the area. In contrast, the local market rent for a similar unit is recorded at $861 according to the Census ACS, indicating a significant disparity between the government-set rates and the actual market conditions.
A landlord participating in the Section 8 program receives a reimbursement based on the difference between the SAFMR and the tenant's portion of the rent, plus any applicable utility allowances. The tenant is typically required to pay 30% of their adjusted income towards the rent. For instance, if a tenant’s monthly adjusted income is $1000, they would contribute $300 towards the rent. Utility allowances vary but are generally around $200-$300 per month for a two-bedroom unit, depending on the specifics of the voucher and the household size.
To calculate the reimbursement, let's use the example where the tenant contributes $300 and there is a utility allowance of $250. The total reimbursement would be the SAFMR minus the tenant contribution plus the utility allowance:
This means the landlord would receive approximately $1670 per month from the housing authority, assuming the utility allowance is $250. However, the actual amount can fluctuate based on the exact utility allowance and the tenant’s income.
Given the local market rent of $861, the typical reimbursement of $1670 results in a surplus for landlords. This surplus is $809 per month, making it financially advantageous for landlords to participate in the Section 8 program in ZIP 33946. Landlords should be aware that while this surplus exists, the management of Section 8 properties comes with its own set of regulations and requirements, including maintaining the property to certain standards and undergoing periodic inspections.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.