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 | $1,650 |
| 1 Bedroom | $1,770 |
| 2 Bedrooms | $2,070 |
| 3 Bedrooms | $2,620 |
| 4 Bedrooms | $3,130 |
| 5 Bedrooms | $3,631 |
| 6 Bedrooms | $4,067 |
| 7 Bedrooms | $4,392 |
| 8 Bedrooms | $4,612 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,770 | $210,868 | 0.84% | C |
| 2BR | $2,070 | $351,410 | 0.59% | F |
| 3BR | $2,620 | $527,623 | 0.5% | F |
| 4BR | $3,130 | $1,217,425 | 0.26% | F |
| 5BR | $3,631 | $2,664,328 | 0.14% | F |
U.S. Census Bureau data (2024)
The ZIP code 34239 in Sarasota, FL, presents a dynamic rental market characterized by several key indicators. The Fair Market Rent (FMR) for the area is set at $2,010 for fiscal year 2024, while the actual market rent, as indicated by Zillow's ZORI index, stands higher at $2,631. This discrepancy suggests that the market is robust, with rents exceeding the benchmark set by government standards.
A critical measure of market health is the percentage of listings that have been price-cut. In ZIP 34239, only 0.3% of listings have been reduced in price, which is exceptionally low. This figure points to a strong seller's market, where homes are generally priced correctly and quickly find buyers without needing adjustments. Additionally, the days on market (DOM) average of 42 days further supports this notion, indicating that homes are selling relatively fast.
The median home value in the area is $494,799, reflecting the overall cost of homeownership. When juxtaposed with the rental rates, it becomes evident that owning a home in this ZIP code is significantly more expensive than renting, potentially driving more residents towards the rental market.
The 24.0% renter share provides insight into the long-term housing pressures faced by the community. A lower proportion of renters might suggest a preference for homeownership, but when combined with high rental prices and quick sales in the home market, it indicates a competitive environment where both renters and buyers vie for limited housing options. This competition can lead to sustained upward pressure on rental rates and home values, as evidenced by the current market conditions.
In summary, the data paints a picture of a market where demand likely outpaces supply, driven by high rental prices, quick home sales, and a competitive landscape. Landlords and small-portfolio investors should be aware of these dynamics, positioning themselves to capitalize on the strong rental market while being mindful of the potential for increased competition.
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.