FMR is below market; voucher rent may lag private rents.
0.77
1 BR
1 BR- 33149
0.84ratio
FMR$3,030
Market$3,620
vs market-$590
FMR is below market; voucher rent may lag private rents.
0.84
2 BR
2 BR- 33149
0.58ratio
FMR$3,660
Market$6,340
vs market-$2,680
FMR is below market; voucher rent may lag private rents.
0.58
3 BR
3 BR- 33149
0.54ratio
FMR$4,680
Market$8,710
vs market-$4,030
FMR is below market; voucher rent may lag private rents.
0.54
4 BR
4 BR- 33149
0.39ratio
FMR$5,350
Market$13,810
vs market-$8,460
FMR is below market; voucher rent may lag private rents.
0.39
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Key Biscayne, FL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Key Biscayne, FL is $3,660 a month. That is up 6.1% from $3,450 in FY 2026. Key Biscayne is in the Miami-Miami Beach-Kendall, FL HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Florida is $1,474, so Key Biscayne is 148% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Key Biscayne, FL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,590
$2,780
+7.3%
$2,502–$3,058
1BR
$2,820
$3,030
+7.4%
$2,727–$3,333
2BR
$3,450
$3,660
+6.1%
$3,294–$4,026
3BR
$4,420
$4,680
+5.9%
$4,212–$5,148
4BR
$5,110
$5,350
+4.7%
$4,815–$5,885
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Key Biscayne, FL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,780
$3,030
$3,660
$4,680
$5,350
FY 2026
$2,590
$2,820
$3,450
$4,420
$5,110
FY 2025
$2,560
$2,840
$3,490
$4,510
$5,280
FY 2024
$2,530
$2,830
$3,490
$4,550
$5,390
FY 2023
$2,040
$2,310
$2,880
$3,790
$4,490
Questions about Key Biscayne, FL rents
How much will Section 8 pay for a two-bedroom in Key Biscayne, FL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,660, that basic range is $3,294 to $4,026 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Key Biscayne, FL in?
Key Biscayne, FL is in the Miami-Miami Beach-Kendall, FL HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Key Biscayne, FL for FY 2027?
The two-bedroom FMR rose 6.1%, from $3,450 in FY 2026 to $3,660 in FY 2027. Since FY 2023 it has risen 27.1%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set