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Lee County/Cape Coral/33993

33993

ZIPSAFMR
Lee County, FL
Zillow

ZIP Investment Score

74Below average

095130300
BRFMR
Eff. Rent
0 BR$1,980$1,580
1 BR$1,990$1,620
2 BR$2,340$1,790
3 BR$3,030$1,880
4 BR$3,340$2,400
5 BR$3,841Not available
6 BR$4,417Not available
7 BR$5,080Not available
8 BR$5,842Not available

Purchase Price Calculator

Maximum purchase price
$204,077

Cost breakdown

+Likely effective rent$1,790
HUD FMR$2,340
Market rentUsed$1,790
Est. payment standard (90%)$2,110
-Principal and interest-$1,032
Loan amount$163,261
Down payment$40,815
Rate6.50%
Term30 years
-Operating costs-$558
Property taxes-$204
Insurance-$175
Utilities$0
HOA$0
Management-$179
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,741(70.4% ROI)
Projected value
$219,768
Return breakdown
Property appreciation+$15,692
Loan principal paid down+$5,849
Rental cash flow+$7,200
5-year hold
+$49,248(120.7% ROI)
Projected value
$230,894
Return breakdown
Property appreciation+$26,817
Loan principal paid down+$10,431
Rental cash flow+$12,000
10-year hold
+$106,013(259.7% ROI)
Projected value
$261,236
Return breakdown
Property appreciation+$57,159
Loan principal paid down+$24,855
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.25
1 BR
1.23
2 BR
1.31
3 BR
1.61
4 BR
1.39
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 33993 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 33993 (Cape Coral, FL) is $2,340 a month. That is down 7.1% from $2,520 in FY 2026. Cape Coral 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, 33993 has the 3rd-highest two-bedroom rent (county range $1,770–$2,750). The median county two-bedroom FMR in Florida is $1,474, so ZIP 33993 is 59% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 33993
BedroomsFY 2027Change90–110% range
Studio$1,980−5.3%$1,782–$2,178
1BR$1,990−5.7%$1,791–$2,189
2BR$2,340−7.1%$2,106–$2,574
3BR$3,030−7.9%$2,727–$3,333
4BR$3,340−8.2%$3,006–$3,674

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 33993
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,980$1,990$2,340$3,030$3,340
FY 2026$2,090$2,110$2,520$3,290$3,640
FY 2025$1,890$1,900$2,360$3,100$3,450
FY 2024$1,700$1,710$2,150$2,820$3,200
FY 2023$1,440$1,450$1,840$2,400$2,740

Two-bedroom rent in nearby Lee County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 33993
33966$1,990−15.0%
33967$1,960−16.2%
33970$1,840−21.4%
33971$1,970−15.8%
33972$1,770−24.4%
33973$1,770−24.4%
33974$1,950−16.7%
33976$2,010−14.1%
33990$1,880−19.7%
33991$2,200−6.0%
33993Current$2,340—
33994$1,840−21.4%

Questions about ZIP 33993 rents

How much will Section 8 pay for a two-bedroom in ZIP 33993?

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 $2,340 it would be $2,106 to $2,574. 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 33993 in?

ZIP 33993 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 33993 for FY 2027?

The two-bedroom FMR fell 7.1%, from $2,520 in FY 2026 to $2,340 in FY 2027. Since FY 2023 it has risen 27.2%.

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