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Miami-Dade County/Miami/33132

33132

ZIPSAFMR
Miami-Dade County, FL
Zillow

ZIP Investment Score

48Below average

095130300
BRFMR
Eff. Rent
0 BR$2,930$2,470
1 BR$3,190$2,970
2 BR$3,850$3,870
3 BR$4,920$5,410
4 BR$5,630$6,190
5 BR$6,474Not available
6 BR$7,446Not available
7 BR$8,563Not available
8 BR$9,847Not available

Purchase Price Calculator

Maximum purchase price
$513,164

Cost breakdown

+Likely effective rent$3,870
HUD FMR$3,850
Market rent$3,880
Est. payment standard (101%)Used$3,870
-Principal and interest-$2,595
Loan amount$410,531
Down payment$102,633
Rate6.50%
Term30 years
-Operating costs-$1,075
Property taxes-$513
Insurance-$175
Utilities$0
HOA$0
Management-$387
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$61,366(59.8% ROI)
Projected value
$552,621
Return breakdown
Property appreciation+$39,457
Loan principal paid down+$14,708
Rental cash flow+$7,200
5-year hold
+$105,663(103.0% ROI)
Projected value
$580,598
Return breakdown
Property appreciation+$67,434
Loan principal paid down+$26,229
Rental cash flow+$12,000
10-year hold
+$230,228(224.3% ROI)
Projected value
$656,893
Return breakdown
Property appreciation+$143,729
Loan principal paid down+$62,499
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.19
1 BR
1.07
2 BR
0.99
3 BR
0.64
4 BR
0.45
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 33132 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33132 (Miami, FL) is $3,850 a month. That is up 8.8% from $3,540 in FY 2026. Miami 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, 33132 is tied for the highest two-bedroom rent (county range $2,010–$3,850). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33132 is 161% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 33132
BedroomsFY 2027Change90–110% range
Studio$2,930+10.2%$2,637–$3,223
1BR$3,190+10.0%$2,871–$3,509
2BR$3,850+8.8%$3,465–$4,235
3BR$4,920+8.4%$4,428–$5,412
4BR$5,630+7.2%$5,067–$6,193

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 33132
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,930$3,190$3,850$4,920$5,630
FY 2026$2,660$2,900$3,540$4,540$5,250
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

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

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 33132
33126$2,690−30.1%
33127$2,060−46.5%
33128$2,120−44.9%
33129$3,220−16.4%
33130$2,780−27.8%
33131$3,8500.0%
33132Current$3,850—
33133$3,150−18.2%
33134$2,860−25.7%
33135$2,280−40.8%
33136$2,070−46.2%
33137$3,460−10.1%

Questions about ZIP 33132 rents

How much will Section 8 pay for a two-bedroom in ZIP 33132?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,850, that basic range is $3,465 to $4,235 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 33132 in?

ZIP 33132 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 33132 for FY 2027?

The two-bedroom FMR rose 8.8%, from $3,540 in FY 2026 to $3,850 in FY 2027. Since FY 2023 it has risen 33.7%.

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