Location: North Port-Bradenton-Sarasota, 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 | $1,810 |
| 1 Bedroom | $1,940 |
| 2 Bedrooms | $2,260 |
| 3 Bedrooms | $2,870 |
| 4 Bedrooms | $3,420 |
| 5 Bedrooms | $3,967 |
| 6 Bedrooms | $4,443 |
| 7 Bedrooms | $4,798 |
| 8 Bedrooms | $5,038 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,940 | $186,073 | 1.04% | B |
| 2BR | $2,260 | $298,140 | 0.76% | D |
| 3BR | $2,870 | $442,766 | 0.65% | D |
| 4BR | $3,420 | $862,494 | 0.4% | F |
| 5BR | $3,967 | $1,889,215 | 0.21% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP 34231, located in Sarasota, FL, and part of the North Port-Bradenton-Sarasota, FL MSA, reveals key insights for landlords and small-portfolio investors. The first question to address is whether the rent math works. With the Fair Market Rent (FMR) set at $1850 for fiscal year 2024 and the market rent indicated by Zillow's Rent Index (ZORI) at $2,132, it's clear that landlords can charge above the FMR threshold, indicating a positive margin for rental properties.
Moving on to the affordability of property acquisition, the median home value in ZIP 34231 stands at $361,317. This figure, combined with a Days on Market (DOM) average of 55 days and a mere 0.3% of homes experiencing price cuts, suggests that the market is stable and homes are generally selling quickly without significant discounts. Therefore, acquiring properties in this area is feasible and likely to be a sound investment.
The final consideration is tenant demand. ZIP 34231 has a total population of 32,404, with 35.3% of residents being renters. This substantial renter share indicates a robust demand for rental properties, ensuring that landlords can find tenants readily. Moreover, the sizeable renter population supports the notion that rental income will be consistent and reliable.
In conclusion, the rent math in ZIP 34231 works favorably for landlords, allowing them to charge above the FMR while still attracting tenants. Property acquisition is affordable given the median home value and quick sales pace, with minimal instances of price reductions. Tenant demand is strong, bolstered by a large percentage of renters within the population. Investing in rental properties in this area is a strategic decision, backed by solid financial metrics and high tenant interest.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.