Location: Punta Gorda, FL | Metro: North Port-Bradenton-Sarasota, FL MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,330 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,160 |
| 4 Bedrooms | $2,580 |
| 5 Bedrooms | $2,993 |
| 6 Bedrooms | $3,352 |
| 7 Bedrooms | $3,620 |
| 8 Bedrooms | $3,801 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,430 | $162,554 | 0.88% | C |
| 2BR | $1,690 | $278,127 | 0.61% | D |
| 3BR | $2,160 | $514,545 | 0.42% | F |
| 4BR | $2,580 | $738,504 | 0.35% | F |
| 5BR | $2,993 | $1,326,430 | 0.23% | F |
U.S. Census Bureau data (2024)
The ZIP code 34223, located in Englewood, FL, presents a dynamic rental market with clear indications of how supply and demand interact. The Fair Market Rent (FMR) set at $1500 for fiscal year 2024 contrasts sharply with the actual market rent, which stands at $2,180 according to ZORI (Zillow Observed Rental Index). This suggests that the rental market in Englewood is robust, with rents exceeding the government's benchmark, indicating strong demand from tenants.
The low price-cut share of 0.3% further underscores that landlords in this area do not frequently have to lower their asking prices to attract renters. This is a sign of a healthy market where properties typically rent at their listed rates, reflecting the eagerness of potential tenants to secure housing. Additionally, the days on market (DOM) figure of 71 days is relatively short, suggesting that once a property becomes available, it is quickly leased, another indicator of a tight rental market.
The median home value of $372,546 provides context to the overall economic conditions and housing affordability in Englewood. Given that the market rent is significantly higher than the FMR, combined with the low price-cut share and quick leasing times, it can be inferred that demand for rental properties outpaces supply in this area. This imbalance is likely to continue, driven by the high market rent and the limited number of homes being priced to sell or rent.
The 12.5% renter share highlights that a significant portion of residents in Englewood choose to rent rather than own. This could be due to various factors such as affordability concerns or lifestyle choices, but it also points to a persistent pressure on the rental market. As long-term trends, a higher proportion of renters often leads to sustained demand for rental units, making Englewood a stable market for landlords and small-portfolio investors looking to capitalize on consistent tenant interest.
In summary, the rental market in Englewood, FL, is characterized by strong demand for rental properties, evidenced by high market rents and quick leasing times. The dynamics suggest that demand outpaces supply, creating a favorable environment for landlords and investors who can expect steady occupancy and potentially rising rents over time.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.