Location: Naples-Marco Island, FL | Metro: Naples-Marco Island, 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 | $1,290 |
| 1 Bedroom | $1,700 |
| 2 Bedrooms | $1,850 |
| 3 Bedrooms | $2,350 |
| 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 |
|---|---|---|---|---|
| 1BR | $1,700 | $400,021 | 0.42% | F |
| 2BR | $1,850 | $710,980 | 0.26% | F |
| 3BR | $2,350 | $2,331,519 | 0.1% | F |
| 4BR | $2,560 | $5,256,076 | 0.05% | F |
| 5BR | $2,970 | $10,326,936 | 0.03% | F |
U.S. Census Bureau data (2024)
ZIP code 34102, located in Naples, FL, is part of the larger Naples-Marco Island, FL MSA metro area. The Fair Market Rent (FMR) for 34102 in fiscal year 2024 is set at $1740. This figure represents the maximum amount that a household receiving Section 8 assistance would pay for rent in the area.
When comparing 34102's metrics to typical ZIP codes within the Naples-Marco Island, FL MSA, it stands out in several ways. The market rent of $10,127 per year is significantly higher than the FMR, indicating a strong rental market where properties are valued well above the government-assisted threshold. The median home value in 34102 is $1,299,921, which is also notably higher than the average home values in the broader metro area, suggesting that this ZIP code is likely a premium sub-market within its region.
The renter share in 34102 is 24.1%, which is a moderate percentage. However, it does not align with the characteristics of a typical Section 8 sweet spot, which would usually have a higher renter share combined with lower home values. In this case, the high home values and moderate renter share indicate that while there is a significant number of renters, the overall cost of living and property values are elevated.
To further contextualize, let's examine the data points more closely. The FMR of $1740 is a fixed amount designed to ensure affordability for low-income households. In contrast, the market rent of $10,127 suggests that the rental market is robust and competitive, with many units priced well above the subsidized rate. This implies that landlords in 34102 can potentially command higher rents, especially if their properties offer desirable amenities or are situated in prime locations.
The median home value of $1,299,921 places 34102 firmly in the upper echelons of the housing market, making it less likely to be a value pocket for investors looking to capitalize on lower-cost properties. Instead, it represents a premium sub-market where investment opportunities are geared towards higher-end real estate.
In summary, ZIP 34102 is best characterized as a premium sub-market within the Naples-Marco Island, FL MSA. Its high home values and competitive market rents suggest that it is an attractive area for investment, but the relatively moderate renter share means that it is not a primary target for Section 8 tenants seeking affordable housing options. For landlords and small-portfolio investors, this ZIP code offers opportunities in a high-demand rental market, though they should be prepared for the associated higher costs and competition.
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.