Location: Punta Gorda, FL | Metro: Punta Gorda, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $2,250 |
| 4 Bedrooms | $2,690 |
| 5 Bedrooms | $3,120 |
| 6 Bedrooms | $3,494 |
| 7 Bedrooms | $3,774 |
| 8 Bedrooms | $3,963 |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $1400 for ZIP 33983 in Punta Gorda, FL, landlords can expect to align their rental pricing with government standards. The Zillow Observed Rent Index (ZORI) stands at $1,853, indicating a premium over the FMR, which suggests strong demand for rental properties in the area. A median home value of $303,667 provides a solid base for investment, reflecting the overall property values in the region. With 20.3% of residents being renters, there's a notable segment of the population relying on the rental market, making it a viable option for investors looking to tap into this demand. The median income of $71,856 supports the ability of local tenants to afford higher rents, although they might still prefer the stability and affordability of Section 8 housing. The average Days on Market (DOM) of 66 days shows that properties are generally selling relatively quickly, indicating a healthy real estate market. However, the price-cut share of 0.3% is minimal, suggesting that while homes sell quickly, they often do so at or near the asking price, without much need for negotiation. Given these figures, landlords and small-portfolio investors should consider the benefits of Section 8 as a reliable source of rental income, with a stable tenant base that can help maintain occupancy rates and reduce vacancy periods. In conclusion, for ZIP 33983, Section 8 remains a sound investment strategy.
Data Sources: FMR data from HUD (2027). 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.