Location: Naples-Marco Island, FL | Metro: Naples-Marco Island, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,350 |
| 1 Bedroom | $1,780 |
| 2 Bedrooms | $1,940 |
| 3 Bedrooms | $2,460 |
| 4 Bedrooms | $2,690 |
| 5 Bedrooms | $3,120 |
| 6 Bedrooms | $3,494 |
| 7 Bedrooms | $3,774 |
| 8 Bedrooms | $3,963 |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP 34137 regarding Section 8 properties reveals several potential issues that could impact a landlord's financial stability. Firstly, tenant turnover is a significant concern. The market rent is not available, but the Fair Market Rent (FMR) for the fiscal year 2024 is set at $1640. This means that landlords must be prepared for frequent changes in occupancy, which can lead to increased administrative costs and maintenance expenses.
Vacancy exposure is another critical factor. With no data on the average days on market (DOM), it is challenging to predict how quickly a property might be filled. A prolonged period of vacancy can result in lost rental income, which can be particularly damaging if the landlord relies heavily on that income stream.
Deferred-maintenance exposure is also a notable risk. Without specific figures on the typical home value and median income in ZIP 34137, landlords must anticipate that Section 8 tenants may not have the means to cover additional maintenance costs. This could leave landlords responsible for covering these expenses, which can add up quickly and affect profitability.
However, these risks are somewhat mitigated by the fact that the renter share in ZIP 34137 is 0.0%. While this figure appears unusually low, it suggests a high concentration of homeownership, which often correlates with higher demand for rental assistance vouchers. In such a scenario, landlords might find a steady stream of Section 8 tenants, reducing the likelihood of prolonged vacancies and ensuring consistent rental income.
Verdict: Moderate risk for a first-time Section 8 landlord.
Data Sources: FMR data from HUD (2027). 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.