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 | $1,620 |
| 1 Bedroom | $2,130 |
| 2 Bedrooms | $2,320 |
| 3 Bedrooms | $2,940 |
| 4 Bedrooms | $3,210 |
| 5 Bedrooms | $3,724 |
| 6 Bedrooms | $4,171 |
| 7 Bedrooms | $4,505 |
| 8 Bedrooms | $4,730 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,320 | $348,649 | 0.67% | D |
| 3BR | $2,940 | $612,858 | 0.48% | F |
| 4BR | $3,210 | $919,066 | 0.35% | F |
U.S. Census Bureau data (2024)
The ZIP code 34114 in Naples, Florida stands out within Collier County due to its unique demographic and economic characteristics. With a population of 23,559, it has a relatively low rental rate of 15.3%, indicating that most residents own their homes. The median income here is $89,334, reflecting a middle-class community. However, the median home value is notably high at $514,079, suggesting a significant presence of higher-end properties.
When considering Section 8 voucher economics, the disparity between the Fair Market Rent (FMR) and the market rent becomes apparent. For fiscal year 2024, the FMR for ZIP 34114 is set at $1,810. In contrast, the Zillow Observed Rent Index (ZORI), which reflects the actual market conditions, shows an average rent of $3,140. This means landlords accepting Section 8 vouchers would receive less than the market rate, potentially impacting profitability if they rely solely on voucher tenants.
The data signature for ZIP 34114 suggests a stable environment. Despite the relatively low rental rate and high median home value, the median income indicates that residents can afford to live in the area without needing extensive government assistance. Landlords should be aware that while Section 8 vouchers can help fill units, the gap between FMR and market rates might necessitate a mixed tenant strategy to maintain financial stability.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.