Section 8 Fair Market Rent (FMR) for ZIP 34139 - 2027

Location: Naples-Marco Island, FL | Metro: Naples-Marco Island, FL MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,480
1 Bedroom	$1,950
2 Bedrooms	$2,120
3 Bedrooms	$2,690
4 Bedrooms	$2,930
5 Bedrooms	$3,399
6 Bedrooms	$3,807
7 Bedrooms	$4,112
8 Bedrooms	$4,318

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

243

Median Household Income

$85,000

Housing Units

469

Renter Percentage

31.4%

Occupancy Rate

25.2%

Renter Occupied

The economics of Section 8 in ZIP code 34139 are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP is set at $1780 per month for fiscal year 2024. This is slightly higher than the local market rent, which averages at $1,712 according to the Census ACS.

A Section 8 voucher works by covering the difference between the tenant's portion of the rent and the total rent required. Here’s a breakdown:

The tenant is typically responsible for paying 30% of their adjusted income towards rent. If we assume an average adjusted income of $2,000, the tenant would pay around $600 monthly.
The SAFMR limit of $1780 is the maximum amount that the government will pay on behalf of the tenant. If the market rent is below this limit, the government covers the rest of the rent above the tenant's share.
Utility allowances vary but generally range from $200 to $300 per month. This amount is also covered by the government, though it doesn't increase the overall rent beyond the SAFMR limit.

In ZIP 34139, landlords can expect the government to reimburse the remainder of the rent up to the SAFMR limit. Given the local market rent of $1,712, the government would cover the difference between the tenant's payment and the market rent, up to $1780. So, if the tenant pays $600, the government would cover $1,112 for the landlord, assuming no utility allowances are applied. Including utility allowances, the government might pay closer to $1,312.

This means that in ZIP 34139, landlords participating in Section 8 for a two-bedroom unit would see a $478 monthly surplus, considering the average market rent and without accounting for any additional utility costs. The surplus occurs because the SAFMR exceeds the typical market rent in this area, ensuring that landlords receive the full market value for their property.

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.