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 | $1,480 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,770 |
| 3 Bedrooms | $2,310 |
| 4 Bedrooms | $2,560 |
| 5 Bedrooms | $2,970 |
| 6 Bedrooms | $3,326 |
| 7 Bedrooms | $3,592 |
| 8 Bedrooms | $3,772 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,770 | $230,048 | 0.77% | D |
| 3BR | $2,310 | $304,778 | 0.76% | D |
| 4BR | $2,560 | $339,830 | 0.75% | D |
| 5BR | $2,970 | $411,406 | 0.72% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 33972, Lehigh Acres, FL, is set at $1,680 for fiscal year 2024. This figure represents the maximum amount the government will pay toward rent for a Section 8 voucher holder in this area. It does not represent the actual rent you can charge your tenants; it's a benchmark used to determine the subsidy level.
In comparison, the typical market rent in Lehigh Acres is around $1,945. This is known as the Zillow Observed Rent Index (ZORI), which gives an idea of what renters are paying in the local market. As you can see, the FMR is lower than the average market rent, meaning that landlords who accept Section 8 vouchers must adjust their expectations on rental income.
The 19.9% share of renters in Lehigh Acres indicates a moderate demand for rental properties. With nearly one-fifth of the population renting, there is a significant number of potential tenants who might be interested in Section 8 housing. However, this percentage also suggests that there are enough rental units available to meet the demand, so competition for tenants could be fierce.
If you're looking to purchase a property in Lehigh Acres for your first Section 8 rental, you should be prepared to spend approximately $312,348. This is the median home value, indicating that this is roughly what you would need to acquire a home in the area. Keep in mind that this price can vary based on the condition and location of the property.
Before you decide to proceed with a Section 8 rental, verify that the property meets the Housing Quality Standards (HQS) required by the program. These standards ensure that the home is safe and livable for tenants, covering areas such as structural integrity, heating, plumbing, and electrical systems. If your property passes this inspection, you can move forward with confidence knowing it complies with the necessary 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.