Location: North Port-Bradenton-Sarasota, FL | Metro: North Port-Bradenton-Sarasota, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,660 |
| 1 Bedroom | $1,780 |
| 2 Bedrooms | $2,080 |
| 3 Bedrooms | $2,640 |
| 4 Bedrooms | $3,150 |
| 5 Bedrooms | $3,654 |
| 6 Bedrooms | $4,092 |
| 7 Bedrooms | $4,419 |
| 8 Bedrooms | $4,640 |
1720 is the Fair Market Rent (FMR) for ZIP 34264 in Florida for fiscal year 2024, setting a clear benchmark for rental properties in the area. While the specific market rent data is unavailable, the FMR provides a reliable estimate for landlords and small-portfolio investors to price their rentals competitively. The absence of median home value data suggests a lack of comprehensive residential sales information, which could indicate a predominantly rental-focused market. With the renter share percentage also unreported, it's difficult to gauge the exact proportion of renters to homeowners, but the FMR can still guide investment decisions. Median income data being N/A means we cannot directly compare the affordability of rents against local incomes, though the FMR is designed to be reasonable across various income levels. The N/A-day DOM figure implies that the average time on the market for rental listings is unknown, potentially due to limited transaction records. Similarly, the N/A% price-cut share indicates that there is no data on how often landlords reduce rents to attract tenants, suggesting a stable rental market without significant fluctuations. For landlords considering participation in the Section 8 program, the 1720 FMR is the key figure to ensure compliance with HUD regulations. Given the available data, landlords should set their rents close to the FMR to remain competitive and attractive to potential tenants. However, the lack of detailed market data means that thorough research and possibly consulting local real estate agents would be beneficial to understand the nuances of the rental market in ZIP 34264.
Section 8 verdict: Participation in the Section 8 program at the 1720 FMR level is advisable for landlords in ZIP 34264 to ensure steady occupancy and compliance with federal guidelines.
Data Sources: FMR data from HUD (2027).
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.