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Lee County/Alva/33920

33920

ZIPSAFMR
Lee County, FL
Zillow

ZIP Investment Score

65Below average

095130300
BRFMR
Eff. Rent
0 BR$1,470$1,620
1 BR$1,480$1,620
2 BR$1,770$1,770
3 BR$2,310$2,080
4 BR$2,560$2,430
5 BR$2,944Not available
6 BR$3,386Not available
7 BR$3,893Not available
8 BR$4,477Not available

Purchase Price Calculator

Maximum purchase price
$201,105

Cost breakdown

+Likely effective rent$1,770
HUD FMR$1,770
Market rent$1,770
Est. payment standard (100%)Used$1,770
-Principal and interest-$1,017
Loan amount$160,884
Down payment$40,221
Rate6.50%
Term30 years
-Operating costs-$553
Property taxes-$201
Insurance-$175
Utilities$0
HOA$0
Management-$177
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,427(70.7% ROI)
Projected value
$216,568
Return breakdown
Property appreciation+$15,463
Loan principal paid down+$5,764
Rental cash flow+$7,200
5-year hold
+$48,706(121.1% ROI)
Projected value
$227,532
Return breakdown
Property appreciation+$26,427
Loan principal paid down+$10,279
Rental cash flow+$12,000
10-year hold
+$104,819(260.6% ROI)
Projected value
$257,431
Return breakdown
Property appreciation+$56,326
Loan principal paid down+$24,493
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.83
1 BR
0.88
2 BR
1.00
3 BR
1.11
4 BR
1.05
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 33920 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33920 (Alva, FL) is $1,770 a month. That is up 6.6% from $1,660 in FY 2026. Alva 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, 33920 is tied for the 40th-highest two-bedroom rent (county range $1,770–$2,750). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33920 is 20% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 33920
BedroomsFY 2027Change90–110% range
Studio$1,470+9.7%$1,323–$1,617
1BR$1,480+10.4%$1,332–$1,628
2BR$1,770+6.6%$1,593–$1,947
3BR$2,310+6.0%$2,079–$2,541
4BR$2,560+5.3%$2,304–$2,816

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 33920
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,470$1,480$1,770$2,310$2,560
FY 2026$1,340$1,340$1,660$2,180$2,430
FY 2025$1,200$1,200$1,510$1,980$2,250
FY 2024$1,030$1,030$1,310$1,710$1,950
FY 2023$910$910$1,160$1,520$1,720

Two-bedroom rent in nearby Lee County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 33920
33912$1,970+11.3%
33913$2,220+25.4%
33914$2,000+13.0%
33915$1,840+4.0%
33916$1,7700.0%
33917$1,7700.0%
33918$1,840+4.0%
33919$1,880+6.2%
33920Current$1,770—
33921$1,7700.0%
33922$1,7700.0%
33924$2,120+19.8%

Questions about ZIP 33920 rents

How much will Section 8 pay for a two-bedroom in ZIP 33920?

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 $1,770 it would be $1,593 to $1,947. 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 33920 in?

ZIP 33920 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 33920 for FY 2027?

The two-bedroom FMR rose 6.6%, from $1,660 in FY 2026 to $1,770 in FY 2027. Since FY 2023 it has risen 52.6%.

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