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 | $1,090 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,430 | $160,947 | 0.89% | C |
| 3BR | $1,940 | $281,599 | 0.69% | D |
| 4BR | $2,320 | $314,969 | 0.74% | D |
U.S. Census Bureau data (2024)
The ZIP code 33980, located in Port Charlotte, Florida, presents an interesting scenario when analyzing the rental market from a renter's viewpoint. The median household income in this area stands at $63,591. However, the market rate for rent, known as the Zillow Observed Rent Index (ZORI), is set at $2,125. This creates a significant financial burden for many households.
In comparison, the Fair Market Rent (FMR) for the fiscal year 2024, which is the standard voucher payment, is $1,150. This means that the difference between what the market demands and what the government considers fair is substantial, highlighting a notable affordability gap for renters.
Given that 24.3% of the population in ZIP 33980 are renters, and the total population is around 13,120, it becomes evident that there is a competitive landscape for landlords. Many renters may find the market rate unaffordable, leading them to seek properties that accept vouchers or have lower rents.
The takeaway for landlords considering their strategy in this ZIP code is clear: focusing on properties that can be rented out through voucher programs could provide a more stable and secure income stream. While cash-paying tenants might offer higher rents, they are fewer in number due to the high cost of living relative to income levels. Accepting vouchers, although at a lower rate, can ensure a steady occupancy and avoid prolonged vacancies in a competitive market where affordability is a key concern for many potential tenants.
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.