Skip to main content
Loading page
Miami-Dade County/Miami/33196

33196

ZIPSAFMR
Miami-Dade County, FL
Zillow

ZIP Investment Score

84Below average

095130300
BRFMR
Eff. Rent
0 BR$2,350$1,800
1 BR$2,560$1,930
2 BR$3,090$2,700
3 BR$3,950$3,460
4 BR$4,520$3,970
5 BR$5,198Not available
6 BR$5,978Not available
7 BR$6,874Not available
8 BR$7,906Not available

Purchase Price Calculator

Maximum purchase price
$339,302

Cost breakdown

+Likely effective rent$2,700
HUD FMR$3,090
Market rentUsed$2,700
Est. payment standard (92%)$2,840
-Principal and interest-$1,716
Loan amount$271,442
Down payment$67,860
Rate6.50%
Term30 years
-Operating costs-$784
Property taxes-$339
Insurance-$175
Utilities$0
HOA$0
Management-$270
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$43,014(63.4% ROI)
Projected value
$365,392
Return breakdown
Property appreciation+$26,089
Loan principal paid down+$9,725
Rental cash flow+$7,200
5-year hold
+$73,930(108.9% ROI)
Projected value
$383,890
Return breakdown
Property appreciation+$44,587
Loan principal paid down+$17,342
Rental cash flow+$12,000
10-year hold
+$160,357(236.3% ROI)
Projected value
$434,336
Return breakdown
Property appreciation+$95,033
Loan principal paid down+$41,324
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
1.31
1 BR
1.33
2 BR
1.14
3 BR
1.14
4 BR
1.14
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 33196 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33196 (Miami, FL) is $3,090 a month. That is up 3.0% from $3,000 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, 33196 has the 20th-highest two-bedroom rent (county range $2,010–$3,850). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33196 is 110% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 33196
BedroomsFY 2027Change90–110% range
Studio$2,350+4.4%$2,115–$2,585
1BR$2,560+4.1%$2,304–$2,816
2BR$3,090+3.0%$2,781–$3,399
3BR$3,950+2.6%$3,555–$4,345
4BR$4,520+1.6%$4,068–$4,972

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 33196
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,350$2,560$3,090$3,950$4,520
FY 2026$2,250$2,460$3,000$3,850$4,450
FY 2025$2,170$2,410$2,960$3,820$4,480
FY 2024$2,230$2,500$3,080$4,010$4,760
FY 2023$1,860$2,110$2,630$3,460$4,100

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

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 33196
33185$3,850+24.6%
33186$2,800−9.4%
33187$3,050−1.3%
33189$2,340−24.3%
33190$2,520−18.4%
33192$2,560−17.2%
33193$2,590−16.2%
33194$3,800+23.0%
33195$2,560−17.2%
33196Current$3,090—
33197$2,560−17.2%
33198$2,560−17.2%

Questions about ZIP 33196 rents

How much will Section 8 pay for a two-bedroom in ZIP 33196?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,090, that basic range is $2,781 to $3,399 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 33196 in?

ZIP 33196 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 33196 for FY 2027?

The two-bedroom FMR rose 3.0%, from $3,000 in FY 2026 to $3,090 in FY 2027. Since FY 2023 it has risen 17.5%.

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