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 | $2,000 |
| 1 Bedroom | $2,140 |
| 2 Bedrooms | $2,500 |
| 3 Bedrooms | $3,170 |
| 4 Bedrooms | $3,780 |
| 5 Bedrooms | $4,385 |
| 6 Bedrooms | $4,911 |
| 7 Bedrooms | $5,304 |
| 8 Bedrooms | $5,569 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,500 | $319,947 | 0.78% | D |
| 3BR | $3,170 | $474,357 | 0.67% | D |
| 4BR | $3,780 | $835,425 | 0.45% | F |
| 5BR | $4,385 | $1,017,848 | 0.43% | F |
U.S. Census Bureau data (2024)
Sarasota, FL's ZIP code 34241 stands out due to its unique demographic and economic characteristics. With a population of 16,408, only 11.1% of residents rent their homes, indicating a predominantly owner-occupied area. The median income in this ZIP is $116,412, which is notably higher than the national average, reflecting a prosperous community. Home values also reflect this prosperity, with a median home value of $586,503, suggesting that property owners in this area have significant equity.
The voucher economics in ZIP 34241 present an interesting opportunity for landlords. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $2,450, significantly lower than the market rent, which is measured at $3,436 using ZORI (Zillow Observed Rent Index). This discrepancy means that landlords could potentially see a substantial difference between the rental income they receive from Section 8 vouchers and the market rate for rentals. While the voucher amount covers a considerable portion of the typical rent, it leaves room for landlords to consider supplementary income sources or to strategically position their properties to attract non-voucher tenants.
Based on the data signature of ZIP 34241, the overall market appears stable. The high median income and median home value suggest a strong local economy with residents who can afford to purchase and maintain homes. The relatively low percentage of renters further supports this stability, as it indicates a mature housing market where many residents are established homeowners. However, the gap between the FMR and the actual market rent highlights a transitional aspect in terms of rental economics, particularly for those relying on Section 8 vouchers. Landlords should be aware of these dynamics when considering long-term investment strategies in this ZIP code.
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.