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Miami-Dade County/Miami/33135

33135

ZIPSAFMR
Miami-Dade County, FL
Zillow

ZIP Investment Score

61Below average

095130300
BRFMR
Eff. Rent
0 BR$1,740$1,610
1 BR$1,890$2,080
2 BR$2,280$2,510
3 BR$2,910$3,200
4 BR$3,330$3,660
5 BR$3,829Not available
6 BR$4,404Not available
7 BR$5,065Not available
8 BR$5,824Not available

Purchase Price Calculator

Maximum purchase price
$311,068

Cost breakdown

+Likely effective rent$2,510
HUD FMR$2,280
Market rent$2,950
Est. payment standard (110%)Used$2,510
-Principal and interest-$1,573
Loan amount$248,855
Down payment$62,214
Rate6.50%
Term30 years
-Operating costs-$737
Property taxes-$311
Insurance-$175
Utilities$0
HOA$0
Management-$251
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$40,034(64.3% ROI)
Projected value
$334,987
Return breakdown
Property appreciation+$23,918
Loan principal paid down+$8,916
Rental cash flow+$7,200
5-year hold
+$68,776(110.5% ROI)
Projected value
$351,945
Return breakdown
Property appreciation+$40,877
Loan principal paid down+$15,899
Rental cash flow+$12,000
10-year hold
+$149,011(239.5% ROI)
Projected value
$398,194
Return breakdown
Property appreciation+$87,125
Loan principal paid down+$37,885
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.08
1 BR
0.82
2 BR
0.77
3 BR
0.73
4 BR
0.76
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 33135 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33135 (Miami, FL) is $2,280 a month. That is up 1.8% from $2,240 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, 33135 is tied for the 102nd-highest two-bedroom rent (county range $2,010–$3,850). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33135 is 55% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 33135
BedroomsFY 2027Change90–110% range
Studio$1,740+3.6%$1,566–$1,914
1BR$1,890+3.3%$1,701–$2,079
2BR$2,280+1.8%$2,052–$2,508
3BR$2,910+1.4%$2,619–$3,201
4BR$3,330+0.3%$2,997–$3,663

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 33135
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,740$1,890$2,280$2,910$3,330
FY 2026$1,680$1,830$2,240$2,870$3,320
FY 2025$1,520$1,700$2,100$2,730$3,240
FY 2024$1,400$1,570$1,940$2,530$3,000
FY 2023$1,170$1,330$1,650$2,170$2,570

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

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 33135
33129$3,220+41.2%
33130$2,780+21.9%
33131$3,850+68.9%
33132$3,850+68.9%
33133$3,150+38.2%
33134$2,860+25.4%
33135Current$2,280—
33136$2,070−9.2%
33137$3,460+51.8%
33138$2,300+0.9%
33139$3,570+56.6%
33140$3,230+41.7%

Questions about ZIP 33135 rents

How much will Section 8 pay for a two-bedroom in ZIP 33135?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,280, that basic range is $2,052 to $2,508 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 33135 in?

ZIP 33135 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 33135 for FY 2027?

The two-bedroom FMR rose 1.8%, from $2,240 in FY 2026 to $2,280 in FY 2027. Since FY 2023 it has risen 38.2%.

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