FMR is near market; voucher and private rents are aligned.
0.98
1 BR
1 BR
0.90ratio
FMR$1,210
Market$1,350
vs market-$140
FMR is below market; voucher rent may lag private rents.
0.90
2 BR
2 BR
0.92ratio
FMR$1,580
Market$1,710
vs market-$130
FMR is near market; voucher and private rents are aligned.
0.92
3 BR
3 BR
1.07ratio
FMR$2,140
Market$2,000
vs market+$140
FMR is near market; voucher and private rents are aligned.
1.07
4 BR
4 BR
1.05ratio
FMR$2,560
Market$2,440
vs market+$120
FMR is near market; voucher and private rents are aligned.
1.05
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 33938 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33938 (Murdock, FL) is $1,580 a month. That is up 7.5% from $1,470 in FY 2026. Murdock is in the Punta Gorda, 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 $1,575. Among 21 ZIP codes in Charlotte County, 33938 is tied for the 11th-highest two-bedroom rent (county range $1,330–$2,130). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33938 is 7% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 33938
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,160
$1,100
−5.2%
$990–$1,210
1BR
$1,170
$1,210
+3.4%
$1,089–$1,331
2BR
$1,470
$1,580
+7.5%
$1,422–$1,738
3BR
$2,040
$2,140
+4.9%
$1,926–$2,354
4BR
$2,330
$2,560
+9.9%
$2,304–$2,816
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 33938
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,100
$1,210
$1,580
$2,140
$2,560
FY 2026
$1,160
$1,170
$1,470
$2,040
$2,330
FY 2025
$1,150
$1,160
$1,460
$2,050
$2,240
FY 2024
$1,090
$1,120
$1,380
$1,940
$2,310
FY 2023
$930
$1,020
$1,270
$1,800
$2,160
Two-bedroom rent in nearby Charlotte County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 33938?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,575, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,418 to $1,733 a month; under the ZIP-level Small Area FMR of $1,580 it would be $1,422 to $1,738. 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 33938 in?
ZIP 33938 is in the Punta Gorda, FL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,575.
How much did fair market rent change in ZIP 33938 for FY 2027?
The two-bedroom FMR rose 7.5%, from $1,470 in FY 2026 to $1,580 in FY 2027. Since FY 2023 it has risen 24.4%.
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