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 | $2,130 |
| 1 Bedroom | $2,280 |
| 2 Bedrooms | $2,660 |
| 3 Bedrooms | $3,370 |
| 4 Bedrooms | $4,020 |
| 5 Bedrooms | $4,663 |
| 6 Bedrooms | $5,223 |
| 7 Bedrooms | $5,641 |
| 8 Bedrooms | $5,923 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,660 | $228,982 | 1.16% | B |
| 3BR | $3,370 | $305,267 | 1.1% | B |
| 4BR | $4,020 | $358,825 | 1.12% | B |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 34286, North Port, FL, in fiscal year 2024 is set at $2,270. This figure represents the payment standard for Section 8 vouchers, which is the maximum amount that the government will pay towards your tenant's rent. It does not mean you can charge $2,270 as rent; instead, it sets a ceiling on the subsidy.
To put this into context, the local Zillow Observed Rent Index (ZORI) for the same area is currently at $2,164. This indicates that the FMR is slightly above the average market rent, making Section 8 vouchers a competitive option for tenants in North Port. However, landlords should be aware that the actual rent they can charge may be lower, depending on the voucher holder’s contribution, which is typically based on their income.
The 20.6% renter share suggests that about one-fifth of the population in North Port are renters, indicating a moderate level of demand for rental properties. While this percentage is not exceptionally high, it still points to a viable market for those interested in Section 8 rentals. The median home value in the area is around $310,561, which can help inform the acquisition cost if you're looking to purchase a property specifically for Section 8 tenancy.
Before committing to a Section 8 rental, one key verification step is to ensure that the property meets the Housing Quality Standards (HQS). These standards are set by the Department of Housing and Urban Development (HUD) and must be satisfied before the unit can be leased under the program. Failure to meet these standards could result in rejection of your application or penalties.
In summary, the FMR of $2,270 provides a benchmark for subsidies, while the local ZORI of $2,164 reflects the average market rent. With a 20.6% renter share and median home values at $310,561, there is a reasonable demand for rental properties in North Port. Ensure your property meets HQS to avoid complications once you decide to participate in the Section 8 program.
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.