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 | $1,050 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,420 |
| 5 Bedrooms | $2,807 |
| 6 Bedrooms | $3,144 |
| 7 Bedrooms | $3,396 |
| 8 Bedrooms | $3,566 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,140 | $85,549 | 1.33% | A |
| 2BR | $1,490 | $170,784 | 0.87% | C |
| 3BR | $2,020 | $258,359 | 0.78% | D |
| 4BR | $2,420 | $311,696 | 0.78% | D |
| 5BR | $2,807 | $514,173 | 0.55% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 33952, Port Charlotte, Florida, are governed by the Specific Area Fair Market Rent (SAFMR) for the region. For a two-bedroom apartment, the SAFMR for fiscal year 2024 is set at $1290. This figure is crucial because it represents the maximum amount that a Section 8 Housing Choice Voucher will cover for rent in this specific ZIP code. It's important to note that the local market rent for a similar unit, as indicated by the Zillow Observed Rent Index (ZORI), is higher at $1669.
A landlord participating in the Section 8 program should understand that the reimbursement from the voucher is not the only income stream. Tenants are required to contribute a portion of their income towards rent, which is typically 30% of their adjusted monthly income. Once this contribution is added to the SAFMR, the total can be compared against the actual market rent. However, the SAFMR does not include utilities, so landlords must account for additional utility allowances if they are part of the tenant's voucher package.
To illustrate, let's assume a tenant's portion of the rent is $300, and there is an additional utility allowance of $200. In this case, the total reimbursement to the landlord would be $1790 ($1290 SAFMR + $300 tenant contribution + $200 utility allowance). This amount exceeds the local market rent of $1669, leaving a surplus of $121 per month. This surplus provides landlords with a buffer that can help offset any potential administrative costs associated with participating in the Section 8 program.
However, the exact reimbursement amount can vary based on the individual circumstances of the tenant, such as their income level and whether they qualify for additional utility allowances. Landlords should verify these details with the Charlotte County Housing Authority to ensure accurate calculations.
In summary, for a two-bedroom apartment in ZIP code 33952, the typical reimbursement gap or surplus when considering the SAFMR of $1290, a tenant contribution of $300, and a utility allowance of $200, results in a surplus of $121 per month over the local market rent of $1669. This surplus can provide a financial advantage to landlords who choose to participate in the Section 8 program in this specific ZIP code.
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.