FMR is below market; voucher rent may lag private rents.
0.59
1 BR
1 BR- 33037
0.67ratio
FMR$1,990
Market$2,980
vs market-$990
FMR is below market; voucher rent may lag private rents.
0.67
2 BR
2 BR- 33037
0.69ratio
FMR$2,260
Market$3,280
vs market-$1,020
FMR is below market; voucher rent may lag private rents.
0.69
3 BR
3 BR- 33037
0.77ratio
FMR$2,980
Market$3,860
vs market-$880
FMR is below market; voucher rent may lag private rents.
0.77
4 BR
4 BR- 33037
0.56ratio
FMR$2,990
Market$5,340
vs market-$2,350
FMR is below market; voucher rent may lag private rents.
0.56
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 Largo, FL fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Key Largo, FL is $2,260 a month. That is down 7.8% from $2,450 in FY 2026. Key Largo is in the Monroe County, FL non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $2,254. The median county two-bedroom FMR in Florida is $1,474, so Key Largo is 53% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Key Largo, FL
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,690
$1,560
−7.7%
$1,404–$1,716
1BR
$2,160
$1,990
−7.9%
$1,791–$2,189
2BR
$2,450
$2,260
−7.8%
$2,034–$2,486
3BR
$3,230
$2,980
−7.7%
$2,682–$3,278
4BR
$3,240
$2,990
−7.7%
$2,691–$3,289
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Key Largo, FL
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,560
$1,990
$2,260
$2,980
$2,990
FY 2026
$1,690
$2,160
$2,450
$3,230
$3,240
FY 2025
$1,540
$1,870
$2,240
$2,980
$3,290
FY 2024area FMR
$1,556
$1,730
$2,139
$2,812
$3,426
FY 2023area FMR
$1,497
$1,597
$2,023
$2,569
$3,433
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Key Largo, FL rents
How much will Section 8 pay for a two-bedroom in Key Largo, FL?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $2,254, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,029 to $2,479 a month; under the ZIP-level Small Area FMR of $2,260 it would be $2,034 to $2,486. 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 Largo, FL in?
Key Largo, FL is in the Monroe County, FL non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $2,254.
How much did fair market rent change in Key Largo, FL for FY 2027?
The two-bedroom FMR fell 7.8%, from $2,450 in FY 2026 to $2,260 in FY 2027. Since FY 2025 it has risen 0.9%.
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