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 | $2,170 |
| 1 Bedroom | $2,320 |
| 2 Bedrooms | $2,710 |
| 3 Bedrooms | $3,440 |
| 4 Bedrooms | $4,100 |
| 5 Bedrooms | $4,756 |
| 6 Bedrooms | $5,327 |
| 7 Bedrooms | $5,753 |
| 8 Bedrooms | $6,041 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,710 | $262,323 | 1.03% | B |
| 3BR | $3,440 | $315,816 | 1.09% | B |
| 4BR | $4,100 | $355,819 | 1.15% | B |
U.S. Census Bureau data (2024)
ZIP code 34288, located in North Port, Florida, is part of the larger North Port-Bradenton-Sarasota, FL Metropolitan Statistical Area (MSA). The Fair Market Rent (FMR) for 34288 in fiscal year 2024 is set at $1,960, which is notably higher than the market rent of $1,744 observed in the area. This suggests that 34288 is slightly above average in terms of rental pricing within the MSA, potentially making it a mid-tier neighborhood rather than a value pocket or premium sub-market.
The median home value in 34288 stands at $320,967. This figure is relatively consistent with other ZIP codes within the North Port-Bradenton-Sarasota MSA, indicating that property values in 34288 align closely with the broader metropolitan area's standards. However, the 23.0% renter share in 34288 is significant and could indicate a higher concentration of renters compared to owner-occupied homes, which is a characteristic that landlords and small-portfolio investors should consider.
A high renter share combined with below-metro home values can often signal an area where Section 8 vouchers are more prevalent, creating a sweet spot for landlords who cater to tenants using such assistance. In the case of 34288, while the renter share is substantial, the home values are not significantly lower than the MSA average, suggesting that the ZIP code may not be a typical Section 8 sweet spot but still offers opportunities for those willing to accept subsidized housing tenants.
To summarize, ZIP 34288 presents itself as a mid-tier neighborhood within the North Port-Bradenton-Sarasota MSA. It has slightly elevated FMRs compared to the actual market rents, a reasonable median home value, and a notable renter share that could benefit landlords who are prepared to work with tenants receiving housing assistance. These factors make 34288 a promising location for real estate investment, particularly for those interested in rental properties.
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.