FMR is below market; voucher rent may lag private rents.
0.84
3 BR
3 BR
0.96ratio
FMR$3,270
Market$3,420
vs market-$150
FMR is near market; voucher and private rents are aligned.
0.96
4 BR
4 BR
0.87ratio
FMR$3,740
Market$4,300
vs market-$560
FMR is below market; voucher rent may lag private rents.
0.87
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 33247 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33247 (Miami, FL) is $2,560 a month. That is up 4.9% from $2,440 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, 33247 is tied for the 48th-highest two-bedroom rent (county range $2,010–$3,850). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33247 is 74% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 33247
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,830
$1,950
+6.6%
$1,755–$2,145
1BR
$2,000
$2,120
+6.0%
$1,908–$2,332
2BR
$2,440
$2,560
+4.9%
$2,304–$2,816
3BR
$3,130
$3,270
+4.5%
$2,943–$3,597
4BR
$3,620
$3,740
+3.3%
$3,366–$4,114
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 33247
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,950
$2,120
$2,560
$3,270
$3,740
FY 2026
$1,830
$2,000
$2,440
$3,130
$3,620
FY 2025
$1,710
$1,900
$2,330
$3,010
$3,530
FY 2024
$1,680
$1,880
$2,320
$3,020
$3,580
FY 2023
$1,360
$1,540
$1,920
$2,530
$2,990
Questions about ZIP 33247 rents
How much will Section 8 pay for a two-bedroom in ZIP 33247?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,560, that basic range is $2,304 to $2,816 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 33247 in?
ZIP 33247 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 33247 for FY 2027?
The two-bedroom FMR rose 4.9%, from $2,440 in FY 2026 to $2,560 in FY 2027. Since FY 2023 it has risen 33.3%.
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