Skip to main content
Loading page
Miami-Dade County/Miami/33194

33194

ZIPSAFMR
Miami-Dade County, FL
Zillow

ZIP Investment Score

118Above average

095130300
BRFMR
Eff. Rent
0 BR$2,890$2,890
1 BR$3,140$3,140
2 BR$3,800$3,800
3 BR$4,860$4,860
4 BR$5,560$5,560
5 BR$6,394Not available
6 BR$7,353Not available
7 BR$8,456Not available
8 BR$9,724Not available

Purchase Price Calculator

Maximum purchase price
$502,762

Cost breakdown

+Likely effective rent$3,800
HUD FMRUsed$3,800
Market rentN/A
Est. payment standardN/A
-Principal and interest-$2,542
Loan amount$402,210
Down payment$100,552
Rate6.50%
Term30 years
-Operating costs-$1,058
Property taxes-$503
Insurance-$175
Utilities$0
HOA$0
Management-$380
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$60,268(59.9% ROI)
Projected value
$541,420
Return breakdown
Property appreciation+$38,658
Loan principal paid down+$14,410
Rental cash flow+$7,200
5-year hold
+$103,764(103.2% ROI)
Projected value
$568,829
Return breakdown
Property appreciation+$66,067
Loan principal paid down+$25,697
Rental cash flow+$12,000
10-year hold
+$226,048(224.8% ROI)
Projected value
$643,578
Return breakdown
Property appreciation+$140,816
Loan principal paid down+$61,232
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 33194 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33194 (Miami, FL) is $3,800 a month. That is up 4.1% from $3,650 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, 33194 is tied for the 5th-highest two-bedroom rent (county range $2,010–$3,850). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33194 is 158% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 33194
BedroomsFY 2027Change90–110% range
Studio$2,890+5.5%$2,601–$3,179
1BR$3,140+5.0%$2,826–$3,454
2BR$3,800+4.1%$3,420–$4,180
3BR$4,860+3.8%$4,374–$5,346
4BR$5,560+2.8%$5,004–$6,116

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 33194
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,890$3,140$3,800$4,860$5,560
FY 2026$2,740$2,990$3,650$4,680$5,410
FY 2025$2,480$2,750$3,380$4,370$5,120
FY 2024$2,400$2,680$3,310$4,310$5,110
FY 2023$1,880$2,130$2,650$3,490$4,130

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

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 33194
33185$3,850+1.3%
33186$2,800−26.3%
33187$3,050−19.7%
33189$2,340−38.4%
33190$2,520−33.7%
33192$2,560−32.6%
33193$2,590−31.8%
33194Current$3,800—
33195$2,560−32.6%
33196$3,090−18.7%
33197$2,560−32.6%
33198$2,560−32.6%

Questions about ZIP 33194 rents

How much will Section 8 pay for a two-bedroom in ZIP 33194?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,800, that basic range is $3,420 to $4,180 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 33194 in?

ZIP 33194 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 33194 for FY 2027?

The two-bedroom FMR rose 4.1%, from $3,650 in FY 2026 to $3,800 in FY 2027. Since FY 2023 it has risen 43.4%.

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