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Lee County/Fort Myers/33907

33907

ZIPSAFMR
Lee County, FL
Zillow

ZIP Investment Score

98Above average

095130300
BRFMR
Eff. Rent
0 BR$1,570$1,230
1 BR$1,580$1,480
2 BR$1,850$1,860
3 BR$2,390$2,150
4 BR$2,640$2,160
5 BR$3,036Not available
6 BR$3,491Not available
7 BR$4,015Not available
8 BR$4,617Not available

Purchase Price Calculator

Maximum purchase price
$214,479

Cost breakdown

+Likely effective rent$1,860
HUD FMR$1,850
Market rent$1,870
Est. payment standard (101%)Used$1,860
-Principal and interest-$1,085
Loan amount$171,583
Down payment$42,896
Rate6.50%
Term30 years
-Operating costs-$575
Property taxes-$214
Insurance-$175
Utilities$0
HOA$0
Management-$186
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,839(69.6% ROI)
Projected value
$230,970
Return breakdown
Property appreciation+$16,491
Loan principal paid down+$6,147
Rental cash flow+$7,200
5-year hold
+$51,147(119.2% ROI)
Projected value
$242,663
Return breakdown
Property appreciation+$28,184
Loan principal paid down+$10,962
Rental cash flow+$12,000
10-year hold
+$110,194(256.9% ROI)
Projected value
$274,551
Return breakdown
Property appreciation+$60,072
Loan principal paid down+$26,122
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.28
1 BR
1.07
2 BR
0.99
3 BR
1.11
4 BR
1.22
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 33907 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33907 (Fort Myers, FL) is $1,850 a month. That is down 8.0% from $2,010 in FY 2026. Fort Myers is in the Cape Coral-Fort Myers, FL MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,835. Among 50 ZIP codes in Lee County, 33907 is tied for the 24th-highest two-bedroom rent (county range $1,770–$2,750). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33907 is 26% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 33907
BedroomsFY 2027Change90–110% range
Studio$1,570−6.0%$1,413–$1,727
1BR$1,580−6.0%$1,422–$1,738
2BR$1,850−8.0%$1,665–$2,035
3BR$2,390−8.8%$2,151–$2,629
4BR$2,640−9.3%$2,376–$2,904

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 33907
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,570$1,580$1,850$2,390$2,640
FY 2026$1,670$1,680$2,010$2,620$2,910
FY 2025$1,480$1,490$1,840$2,420$2,690
FY 2024$1,350$1,350$1,700$2,230$2,530
FY 2023$1,160$1,160$1,480$1,930$2,200

Two-bedroom rent in nearby Lee County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 33907
33901$1,770−4.3%
33902$1,840−0.5%
33903$1,770−4.3%
33904$1,880+1.6%
33905$1,770−4.3%
33906$1,840−0.5%
33907Current$1,850—
33908$2,090+13.0%
33909$2,040+10.3%
33910$1,840−0.5%
33912$1,970+6.5%
33913$2,220+20.0%

Questions about ZIP 33907 rents

How much will Section 8 pay for a two-bedroom in ZIP 33907?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,835, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,652 to $2,019 a month; under the ZIP-level Small Area FMR of $1,850 it would be $1,665 to $2,035. 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 33907 in?

ZIP 33907 is in the Cape Coral-Fort Myers, FL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,835.

How much did fair market rent change in ZIP 33907 for FY 2027?

The two-bedroom FMR fell 8.0%, from $2,010 in FY 2026 to $1,850 in FY 2027. Since FY 2023 it has risen 25.0%.

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