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 | $1,570 |
| 1 Bedroom | $2,080 |
| 2 Bedrooms | $2,260 |
| 3 Bedrooms | $2,870 |
| 4 Bedrooms | $3,120 |
| 5 Bedrooms | $3,619 |
| 6 Bedrooms | $4,053 |
| 7 Bedrooms | $4,377 |
| 8 Bedrooms | $4,596 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,080 | $158,109 | 1.32% | A |
| 2BR | $2,260 | $265,114 | 0.85% | C |
| 3BR | $2,870 | $584,736 | 0.49% | F |
| 4BR | $3,120 | $1,349,483 | 0.23% | F |
| 5BR | $3,619 | $3,499,242 | 0.1% | F |
U.S. Census Bureau data (2024)
ZIP 34105, located in Naples, FL, is a strategic addition to a Section 8 portfolio, functioning primarily as an appreciation play. The median listing home price in 34105 was $507,500 in June 2024, showing a trend downwards at -8.5% year-over-year. However, the median sales price over the past twelve months was $389,295, indicating that actual sale prices are below listing prices. This suggests a market where properties can be acquired at a discount, setting the stage for future appreciation.
The 0.3% price-cut share and 52-day Days on Market (DOM) indicate that while sellers may be willing to negotiate slightly, the market remains relatively strong. Properties in 34105 are selling faster than the national average, which is a positive sign for potential appreciation. Additionally, the increase in the number of homes sold—117 in February 2026 compared to 80 in the same period last year—signals growing demand, further supporting the case for appreciation.
While the median home value in 34105 is $459,956, and the Fair Market Rent (FMR) for FY 2024 is $2,180, with the market rent at $2,212, the spread between these figures and the market rent is minimal. This makes it less suitable as a cash-flow anchor. Similarly, with a renter share of 29.7% and median income at $92,214, it does not serve as a significant diversifier due to the high median home value and the relatively low proportion of renters.
In conclusion, ZIP 34105 is best positioned as an appreciation play within a Section 8 portfolio. The combination of a downward trend in listing prices, quick sales, and increasing demand provides a solid foundation for property value growth over time.
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.