Section 8 Fair Market Rent (FMR) for ZIP 34293 - 2027

Investment Score for ZIP 34293

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,950
1 Bedroom	$2,090
2 Bedrooms	$2,440
3 Bedrooms	$3,090
4 Bedrooms	$3,690
5 Bedrooms	$4,280
6 Bedrooms	$4,794
7 Bedrooms	$5,178
8 Bedrooms	$5,437

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$2,090	$166,567	1.25%	A
2BR	$2,440	$286,426	0.85%	C
3BR	$3,090	$416,677	0.74%	D
4BR	$3,690	$589,316	0.63%	D
5BR	$4,280	$740,988	0.58%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 34293 (Venice, FL) #### Section 8 Voucher Dynamics In ZIP code 34293, the Fair Market Rent (FMR) for a two-bedroom apartment is set at $2,170 per month. This amount represents 28.9% of the median household income in Venice, which stands at $90,038. The FMR is designed to reflect the average rent that voucher holders can afford in the area. However, it is important to understand how these figures compare to actual rental prices. According to the Zillow median price for a two-bedroom property, the typical home value in Venice is $287,231. This translates into a price-to-FMR ratio of approximately 11.0x, indicating that the cost of purchasing a property is significantly higher than the rent that can be charged under the Section 8 program. For voucher holders, this means that they will likely face significant constraints in finding suitable housing within their budget. The FMR is lower than the typical rental rates, making it challenging for them to secure apartments without landlords accepting the vouchers. #### Affordability & Renter Profile The population of Venice is 50,278, with only 11.3% of residents being renters. This suggests that Venice has a relatively low demand for rental properties compared to other areas. The occupancy rate of 82.4% indicates that there is some vacancy in the rental market, but it also implies that the majority of units are occupied. Given the low percentage of renters and the occupancy rate, it appears that the rental market is neither extremely tight nor oversupplied, but rather balanced. However, the affordability of rental properties for those on Section 8 vouchers is a concern. With the median household income at $90,038, many residents may find it difficult to afford higher-end rentals. The FMR for a three-bedroom apartment is $2,810, which is still a significant portion of the median income. This suggests that families with children may struggle to find affordable housing options, particularly if they are relying solely on Section 8 vouchers. #### Investor Angle From an investor's perspective, the cash flow potential in Venice is mixed. The FMR for a two-bedroom unit is $2,170, which is lower than the typical rental rates but still provides a reasonable income stream. However, the high price-to-FMR ratio of 11.0x means that the initial investment required to purchase a property is much higher than what can be recouped through monthly rental income under the Section 8 program. To determine the investment grade, we must consider the balance between rental income and property costs. While the rental income is stable and predictable, the high purchase price relative to the rent means that the return on investment (ROI) will be lower. Investors should weigh the long-term benefits of owning a property in Venice against the short-term cash flow limitations imposed by the Section 8 program. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the constraints of the FMR, investors might want to focus on smaller units such as one-bedroom or studio apartments. The FMR for a one-bedroom unit is $1,870, which could provide better cash flow opportunities compared to larger units. Additionally, smaller units may have a higher demand among single individuals or couples who are more likely to use Section 8 vouchers. 2. **Consider Property Location**: The location of the property within Venice can significantly impact its desirability and rental potential. Areas closer to amenities like schools, shopping centers, and public transportation may command slightly higher rents while still remaining within the FMR guidelines. Investors should conduct thorough research to identify neighborhoods where rental demand is highest. 3. **Evaluate Long-Term Potential**: Despite the lower ROI due to the high price-to-FMR ratio, Venice offers long-term stability and growth potential. The median household income is relatively high, suggesting that the local economy is robust. Investors should consider the potential for appreciation in property values over time, which could offset the lower immediate returns. #### Bottom Line For Section 8-focused investors, Venice presents a challenging but potentially rewarding market. The high price-to-FMR ratio makes it less attractive for immediate cash flow, but the stable economy and long-term appreciation potential offer a compelling case for holding properties. Based on the data provided, the recommendation for Venice would be to **Hold**. Investors should carefully evaluate their portfolio goals and consider focusing on smaller units or strategically located properties to maximize their returns within the constraints of the Section 8 program.

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.