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 | $1,980 |
| 1 Bedroom | $1,990 |
| 2 Bedrooms | $2,340 |
| 3 Bedrooms | $3,030 |
| 4 Bedrooms | $3,340 |
| 5 Bedrooms | $3,874 |
| 6 Bedrooms | $4,339 |
| 7 Bedrooms | $4,686 |
| 8 Bedrooms | $4,920 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,340 | $369,965 | 0.63% | D |
| 3BR | $3,030 | $316,145 | 0.96% | C |
| 4BR | $3,340 | $347,025 | 0.96% | C |
| 5BR | $3,874 | $653,397 | 0.59% | F |
U.S. Census Bureau data (2024)
The market in ZIP 33993, Cape Coral, FL, exhibits a dynamic equilibrium between supply and demand, leaning slightly towards demand outpacing supply. This inference is drawn from the snapshot of key metrics: the Fair Market Rent (FMR) for the fiscal year 2024 is set at $2150, while the actual market rent, as measured by Zillow's Observed Rental Index (ZORI), stands at $2,188. The proximity of these figures suggests that rental prices are reflective of the local economy's ability to support current levels of demand.
A critical indicator of market dynamics is the price-cut share, which is currently at a low 0.3%. This figure indicates that few properties are being discounted, suggesting that homes are generally selling at or near their asking prices. Combined with a median home value of $328,873, it implies that the housing stock in Cape Coral is maintaining its value, a positive sign for homeowners and investors alike.
The Days on Market (DOM) metric, standing at 62 days, further supports the notion that demand is robust. A DOM of 62 days means that homes are selling relatively quickly, indicating strong buyer interest. However, it is also important to note that the 12.6% renter share in Cape Coral points to a significant proportion of the population preferring or needing to rent rather than buy. This high renter share could be indicative of long-term housing pressure, as it suggests a continuous need for rental properties. Landlords and small-portfolio investors should take note of this trend, as it underscores the potential for steady demand in the rental sector.
In summary, the current snapshot of ZIP 33993 reveals a market where demand is likely slightly ahead of supply, with rental prices closely aligned to fair market values and a quick turnover in the sales market. The substantial renter share signals an ongoing need for rental units, which can provide a stable income stream for those willing to invest in the rental property market.
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.