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 | $1,470 |
| 1 Bedroom | $1,480 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,770 | $253,847 | 0.7% | D |
| 3BR | $2,310 | $267,350 | 0.86% | C |
| 4BR | $2,560 | $382,110 | 0.67% | D |
U.S. Census Bureau data (2024)
ZIP 33973, located in Lehigh Acres, FL, within the Cape Coral-Fort Myers, FL MSA, serves as an ideal cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for a $1520 unit in this ZIP code for fiscal year 2024 is slightly below the market rent of $1,678, creating a manageable spread of $158 per unit. This means that landlords can expect a steady, reliable cash flow from tenants participating in the Section 8 program.
The median home value in Lehigh Acres is $277,939, which indicates a relatively affordable housing market. This affordability supports the viability of the Section 8 program, as the rental rates remain within reach for subsidized tenants. Additionally, the low 0.4% price-cut share and N/A-day days on market (DOM) suggest that properties in this area sell quickly once listed, minimizing holding costs and vacancy periods for landlords.
With a 77.1% renter share, Lehigh Acres has a significant population of renters, many of whom could be eligible for Section 8 assistance. The median income of $60,530 aligns well with the income limits set by the Section 8 program, ensuring a stable tenant pool. Landlords can rely on the government subsidy to cover the majority of the rent, thereby securing consistent cash flow.
In summary, ZIP 33973 acts as a strong cash-flow anchor due to the close alignment of Section 8 rental subsidies with market rents, coupled with a high renter share and a robust local economy that supports the viability of the program. This makes it a safe bet for landlords looking to stabilize their income streams without the volatility associated with purely market-rate rentals.
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.