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 | $1,390 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,210 |
| 4 Bedrooms | $2,630 |
| 5 Bedrooms | $3,051 |
| 6 Bedrooms | $3,417 |
| 7 Bedrooms | $3,690 |
| 8 Bedrooms | $3,875 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,490 | $124,599 | 1.2% | B |
| 2BR | $1,740 | $190,583 | 0.91% | C |
| 3BR | $2,210 | $285,671 | 0.77% | D |
| 4BR | $2,630 | $354,224 | 0.74% | D |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 34287, located in North Port, Florida, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR stands at $1,640, while the market rent, as measured by the Zillow Rent Index (ZORI), is $1,830. This discrepancy amounts to a difference of $190 per month, representing approximately an 11.6% gap between the two figures.
Given that the FMR is lower than the market rent, landlords and small-portfolio investors should be aware of the financial implications when housing voucher tenants. The average market rent is $1,830, but the government will only reimburse up to $1,640 under the Section 8 program. Therefore, landlords must accept a lower rental rate than what they could potentially charge in the open market. This scenario can reduce profit margins and may not cover all operating costs, especially in a market where property values are high and median incomes are relatively low.
In the context of North Port, Florida, where 19.1% of residents are renters and the median home value is $250,444, it's crucial to understand how these factors influence the decision to participate in the Section 8 program. With a median income of $63,464, many residents rely on government assistance to afford housing. As such, landlords must weigh the benefits of a steady stream of tenants against the potential drawbacks of receiving less than market rent.
To summarize, the gap between the FMR and the market rent in ZIP 34287 is $190 per month, or about 11.6%. This means that landlords who choose to house voucher tenants will receive a lower rental rate than the open market, which can impact their overall profitability and investment yield. However, the stability of tenancy and the broader social responsibility to provide affordable housing must also be considered in this analysis.
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.