33918

ZIPSAFMR

Lee County, FL

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,560	$1,660	5.5%
1 BR	$1,570	$1,610	5.7%
2 BR	$1,840	$1,680	3.1%
3 BR	$2,380	$2,200	2.7%
4 BR	$2,620	$2,370	1.6%
5 BR	$3,013	Not available	1.6%
6 BR	$3,465	Not available	1.6%
7 BR	$3,985	Not available	1.6%
8 BR	$4,582	Not available	1.6%

Purchase Price Calculator

Maximum purchase price

$187,731

Cost breakdown

+Likely effective rent$1,680

HUD FMR$1,840

Market rentUsed$1,680

Est. payment standard (94%)$1,740

-Principal and interest-$949

Loan amount$150,185

Down payment$37,546

Rate6.50%

Term30 years

-Operating costs-$531

Property taxes-$188

Insurance-$175

Utilities$0

HOA$0

Management-$168

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$27,015(72.0% ROI)

Projected value

$202,166

Return breakdown

Property appreciation+$14,435

Loan principal paid down+$5,381

Rental cash flow+$7,200

5-year hold

+$46,265(123.2% ROI)

Projected value

$212,400

Return breakdown

Property appreciation+$24,669

Loan principal paid down+$9,595

Rental cash flow+$12,000

10-year hold

+$99,444(264.9% ROI)

Projected value

$240,311

Return breakdown

Property appreciation+$52,581

Loan principal paid down+$22,864

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.91ratio

FMR$1,560

Market$1,720

vs market-$160

FMR is near market; voucher and private rents are aligned.

0.91

1 BR

0.96ratio

FMR$1,570

Market$1,630

vs market-$60

FMR is near market; voucher and private rents are aligned.

0.96

2 BR

1.10ratio

FMR$1,840

Market$1,680

vs market+$160

FMR is near market; voucher and private rents are aligned.

1.10

3 BR

1.08ratio

FMR$2,380

Market$2,200

vs market+$180

FMR is near market; voucher and private rents are aligned.

1.08

4 BR

1.11ratio

FMR$2,620

Market$2,370

vs market+$250

FMR is above market; underwrite to market rent.

1.11

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: --

ZIP 33918 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33918 (North Fort Myers, FL) is $1,840 a month. That is down 6.1% from $1,960 in FY 2026. North 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, 33918 is tied for the 26th-highest two-bedroom rent (county range $1,770–$2,750). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33918 is 25% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 33918
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,630	$1,560	−4.3%	$1,404–$1,716
1BR	$1,640	$1,570	−4.3%	$1,413–$1,727
2BR	$1,960	$1,840	−6.1%	$1,656–$2,024
3BR	$2,560	$2,380	−7.0%	$2,142–$2,618
4BR	$2,830	$2,620	−7.4%	$2,358–$2,882

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 33918
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,560	$1,570	$1,840	$2,380	$2,620
FY 2026	$1,630	$1,640	$1,960	$2,560	$2,830
FY 2025	$1,480	$1,490	$1,840	$2,420	$2,690
FY 2024	$1,330	$1,330	$1,680	$2,200	$2,500
FY 2023	$1,130	$1,140	$1,450	$1,890	$2,160

Two-bedroom rent in nearby Lee County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 33918
33912	$1,970	+7.1%
33913	$2,220	+20.7%
33914	$2,000	+8.7%
33915	$1,840	0.0%
33916	$1,770	−3.8%
33917	$1,770	−3.8%
33918Current	$1,840	—
33919	$1,880	+2.2%
33920	$1,770	−3.8%
33921	$1,770	−3.8%
33922	$1,770	−3.8%
33924	$2,120	+15.2%

Questions about ZIP 33918 rents

How much will Section 8 pay for a two-bedroom in ZIP 33918?

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 $1,840 it would be $1,656 to $2,024. 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 33918 in?

ZIP 33918 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 33918 for FY 2027?

The two-bedroom FMR fell 6.1%, from $1,960 in FY 2026 to $1,840 in FY 2027. Since FY 2023 it has risen 26.9%.

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 rent North Fort Myers, FL fair market rent FL statewide rents What is SAFMR?Data sources