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Miami-Dade County/Homestead/33035

33035

ZIPSAFMR
Miami-Dade County, FL
Zillow

ZIP Investment Score

107Above average

095130300
BRFMR
Eff. Rent
0 BR$2,070$2,280
1 BR$2,250$2,480
2 BR$2,720$2,060
3 BR$3,480$2,780
4 BR$3,980$3,670
5 BR$4,577Not available
6 BR$5,264Not available
7 BR$6,053Not available
8 BR$6,961Not available

Purchase Price Calculator

Maximum purchase price
$244,199

Cost breakdown

+Likely effective rent$2,060
HUD FMR$2,720
Market rentUsed$2,060
Est. payment standard (90%)$2,450
-Principal and interest-$1,235
Loan amount$195,359
Down payment$48,840
Rate6.50%
Term30 years
-Operating costs-$625
Property taxes-$244
Insurance-$175
Utilities$0
HOA$0
Management-$206
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$32,976(67.5% ROI)
Projected value
$262,975
Return breakdown
Property appreciation+$18,777
Loan principal paid down+$6,999
Rental cash flow+$7,200
5-year hold
+$56,571(115.8% ROI)
Projected value
$276,288
Return breakdown
Property appreciation+$32,090
Loan principal paid down+$12,482
Rental cash flow+$12,000
10-year hold
+$122,137(250.1% ROI)
Projected value
$312,595
Return breakdown
Property appreciation+$68,396
Loan principal paid down+$29,741
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.72
1 BR
0.84
2 BR
1.32
3 BR
1.25
4 BR
1.08
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 33035 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33035 (Homestead, FL) is $2,720 a month. That is up 2.3% from $2,660 in FY 2026. Homestead 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. Among 119 ZIP codes in Miami-Dade County, 33035 has the 38th-highest two-bedroom rent (county range $2,010–$3,850). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33035 is 85% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 33035
BedroomsFY 2027Change90–110% range
Studio$2,070+3.5%$1,863–$2,277
1BR$2,250+3.2%$2,025–$2,475
2BR$2,720+2.3%$2,448–$2,992
3BR$3,480+2.1%$3,132–$3,828
4BR$3,980+0.8%$3,582–$4,378

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 33035
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,070$2,250$2,720$3,480$3,980
FY 2026$2,000$2,180$2,660$3,410$3,950
FY 2025$1,860$2,060$2,530$3,270$3,830
FY 2024$1,860$2,080$2,570$3,350$3,970
FY 2023$1,500$1,700$2,120$2,790$3,300

Two-bedroom rent in nearby Miami-Dade County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 33035
33016$2,670−1.8%
33017$2,560−5.9%
33018$2,830+4.0%
33023$2,010−26.1%
33030$2,050−24.6%
33031$2,510−7.7%
33032$2,360−13.2%
33033$2,270−16.5%
33034$2,010−26.1%
33035Current$2,720—
33039$2,560−5.9%
33054$2,090−23.2%

Questions about ZIP 33035 rents

How much will Section 8 pay for a two-bedroom in ZIP 33035?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,720, that basic range is $2,448 to $2,992 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 ZIP 33035 in?

ZIP 33035 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 ZIP 33035 for FY 2027?

The two-bedroom FMR rose 2.3%, from $2,660 in FY 2026 to $2,720 in FY 2027. Since FY 2023 it has risen 28.3%.

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

County fair market rentHomestead, FL fair market rentFL statewide rentsWhat is SAFMR?Data sources