Location: Cape Coral-Fort Myers, FL | Metro: Cape Coral-Fort Myers, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,560 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,380 |
| 4 Bedrooms | $2,620 |
| 5 Bedrooms | $3,039 |
| 6 Bedrooms | $3,404 |
| 7 Bedrooms | $3,676 |
| 8 Bedrooms | $3,860 |
1680 is the Fair Market Rent (FMR) for ZIP code 34133 in Florida for fiscal year 2024. This figure represents the maximum amount a landlord can charge for a Section 8 rental unit in this area. Despite the lack of specific market rent data, it's evident that the 1680 FMR serves as a benchmark for rental properties in ZIP 34133. With the median home value also unspecified, we must rely on the FMR to gauge affordability in the region. The renter share percentage being unavailable suggests a need for further investigation into local housing trends. Median income data not provided means that assessing the financial stability of potential tenants based on income alone is challenging. However, the average days on market (DOM) and the percentage of price-cut shares being unknown indicates that there might be limited insights available regarding how quickly properties are rented out and the necessity for landlords to reduce their asking prices. In conclusion, while the specific market conditions in ZIP 34133 require additional research, the 1680 FMR offers a solid starting point for landlords and small-portfolio investors looking to enter the Section 8 housing market. For those considering participation, the absence of certain metrics should prompt due diligence in understanding the local rental market dynamics. Given the available data, landlords should ensure that their rental units meet the quality standards expected for Section 8 tenancy and are priced competitively at or below the 1680 FMR.
Section 8 Verdict: Participation in the Section 8 program in ZIP 34133 is viable at the 1680 FMR, but thorough market analysis is advised due to incomplete local data.
Data Sources: FMR data from HUD (2027).
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.