Location: Naples-Marco Island, FL | Metro: Naples-Marco Island, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,600 |
| 1 Bedroom | $2,110 |
| 2 Bedrooms | $2,300 |
| 3 Bedrooms | $2,920 |
| 4 Bedrooms | $3,180 |
| 5 Bedrooms | $3,689 |
| 6 Bedrooms | $4,132 |
| 7 Bedrooms | $4,463 |
| 8 Bedrooms | $4,686 |
U.S. Census Bureau data (2024)
The classification of ZIP code 34140 hinges on a comparison between its Federal Market Rent (FMR) and its home values, along with an assessment of the stability factors such as the percentage of renters and average days on market. For the fiscal year 2024, the FMR for ZIP 34140 is set at $2090, which contrasts sharply with the median home value of $604,792. This discrepancy suggests that the area is not particularly attractive for long-term rental investments due to the high cost of property acquisition relative to rental income potential.
The percentage of renters in ZIP 34140 stands at 30.6%, indicating a moderate demand for rental properties. However, without specific data on the average days on market (DOM) and the median household income, it's challenging to fully assess the stability of the rental market. The lack of these figures leaves us with incomplete information regarding how quickly properties can be rented out and the ability of tenants to afford the rent.
Given the available data, ZIP 34140 leans towards being a low-stability, low-yield market. The primary driver for this classification is the significant disparity between the median home value and the FMR, suggesting that the rental income does not justify the investment in property purchase. Additionally, the moderate rental population percentage implies that while there is some demand for rentals, it is not strong enough to guarantee quick turnovers or robust rental yields.
To make a more precise determination, specific data points such as the median household income and average DOM would be necessary. These metrics would provide insight into the financial health of potential tenants and the speed at which properties can be leased, both critical factors for assessing the stability of the rental market.
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.