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 | $1,940 |
| 1 Bedroom | $2,080 |
| 2 Bedrooms | $2,430 |
| 3 Bedrooms | $3,080 |
| 4 Bedrooms | $3,670 |
| 5 Bedrooms | $4,257 |
| 6 Bedrooms | $4,768 |
| 7 Bedrooms | $5,149 |
| 8 Bedrooms | $5,406 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,080 | $150,703 | 1.38% | A |
| 2BR | $2,430 | $237,878 | 1.02% | B |
| 3BR | $3,080 | $406,333 | 0.76% | D |
| 4BR | $3,670 | $616,758 | 0.6% | F |
| 5BR | $4,257 | $714,134 | 0.6% | F |
U.S. Census Bureau data (2024)
In Sarasota, FL, the Fair Market Rent (FMR) for ZIP code 34233 is set at $2150 for the fiscal year 2024. This figure represents the maximum amount landlords can charge tenants participating in the Section 8 program. In comparison, the market rent, as measured by ZORI, stands at $2,395, indicating that landlords outside the program can command slightly higher rents. The median home value in this area is $365,235, which suggests a moderate property value that aligns well with the local rental market dynamics.
The renter share of the population is 25.3%, showing a significant portion of residents who rely on rental housing. Given the median income of $75,394, many renters might find the Section 8 program beneficial, especially those who cannot afford the market rent. However, landlords should be aware that the Days on Market (DOM) average is 58 days, implying a moderate time to lease properties. Additionally, the price-cut share is a mere 0.4%, suggesting that properties generally do not require significant price adjustments to attract tenants.
Investors considering the Section 8 program in Sarasota must weigh the benefits of guaranteed rental payments against the potential limitations on rent increases and the administrative requirements. With the FMR being slightly below the market rent, landlords can still achieve reasonable returns while providing affordable housing options. The relatively low price-cut share further supports the idea that the local market is stable and favorable for rental investments.
Verdict: For ZIP 34233, Section 8 remains a viable option for landlords seeking steady rental income, though they should expect a slight reduction from market rates.
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.