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 | $1,860 |
| 1 Bedroom | $2,000 |
| 2 Bedrooms | $2,330 |
| 3 Bedrooms | $2,950 |
| 4 Bedrooms | $3,520 |
| 5 Bedrooms | $4,083 |
| 6 Bedrooms | $4,573 |
| 7 Bedrooms | $4,939 |
| 8 Bedrooms | $5,186 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,330 | $292,219 | 0.8% | D |
| 3BR | $2,950 | $332,501 | 0.89% | C |
| 4BR | $3,520 | $408,995 | 0.86% | C |
U.S. Census Bureau data (2024)
The analysis of ZIP code 34289, located in North Port, FL, within the North Port-Bradenton-Sarasota, FL MSA metro area, reveals several key points regarding its suitability for real estate investment, particularly focusing on the Section 8 housing voucher program.
The first question concerns whether the rent math works. The Fair Market Rent (FMR) for ZIP 34289 in fiscal year 2024 is set at $1830. In comparison, the market rent, according to Census ACS data, stands at $1,784. This indicates that the FMR is slightly higher than the market rent, making it financially viable for landlords who can secure Section 8 tenants. However, the margin is slim, suggesting careful management to ensure profitability.
Regarding the affordability of acquisitions, the median home value in the area is $337,915. While the average number of days on the market (DOM) is not available, the fact that only 0.4% of homes require price cuts suggests a stable market where homes generally sell close to their asking price. This implies that purchasing properties in this ZIP code could be relatively straightforward and affordable for investors, especially considering the low percentage of homes needing price adjustments.
The third point evaluates tenant demand. With a total population of 4,441, 24.5% of residents are renters. This translates to approximately 1,086 potential tenants in the area. Given the size of the population, the demand for rental properties, particularly those eligible for Section 8 vouchers, appears to be moderate but present. Landlords should consider the local competition and vacancy rates to gauge the actual demand for their properties.
In summary, ZIP 34289 presents a balanced opportunity for Section 8 real estate investment. The rent math is favorable, albeit with a narrow margin, and property acquisitions are affordable with minimal need for price adjustments. Tenant demand is moderate, with a significant portion of the population being renters. However, investors must manage costs carefully and be aware of the local rental market dynamics to ensure a successful investment strategy.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.