Location: Naples-Marco Island, FL | Metro: Naples-Marco Island, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,420 |
| 1 Bedroom | $1,870 |
| 2 Bedrooms | $2,040 |
| 3 Bedrooms | $2,590 |
| 4 Bedrooms | $2,820 |
| 5 Bedrooms | $3,271 |
| 6 Bedrooms | $3,664 |
| 7 Bedrooms | $3,957 |
| 8 Bedrooms | $4,155 |
The analysis of ZIP code 34146 within the Naples-Marco Island, FL MSA reveals several key points regarding the viability of Section 8 investments in the area.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 34146 in fiscal year 2024 is set at $1780. However, the lack of specific market rent data means that a direct comparison cannot be made. Landlords should proceed with caution, as the FMR might not accurately reflect the local rental market conditions without additional context.
Regarding the affordability of acquisitions, the absence of median home value, days on market (DOM), and the percentage of homes needing price cuts indicates that detailed data is not available. This scarcity of information makes it challenging to assess whether buying properties in this ZIP code is financially feasible for potential investors.
Lastly, the tenant demand in ZIP 34146 is unclear due to missing population and renter share percentages. Without these figures, it's difficult to determine if there is sufficient demand for rental properties among the local populace.
In conclusion, while the FMR of $1780 provides a benchmark for rental income, the lack of comprehensive data on market rents, property values, and tenant demographics hinders a thorough assessment of the investment opportunity in ZIP 34146. Landlords and small-portfolio investors must seek out additional local insights to make informed decisions about the feasibility of Section 8 properties in this area.
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.