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Collier County/Chokoloskee/34138

34138

ZIPSAFMR
Collier County, FL
Zillow

ZIP Investment Score

69Below average

095130300
BRFMR
Eff. Rent
0 BR$1,550$1,550
1 BR$2,040$2,040
2 BR$2,220$2,220
3 BR$2,820$2,820
4 BR$3,070$3,070
5 BR$3,530Not available
6 BR$4,060Not available
7 BR$4,669Not available
8 BR$5,369Not available

Purchase Price Calculator

Maximum purchase price
$267,975

Cost breakdown

+Likely effective rent$2,220
HUD FMRUsed$2,220
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,355
Loan amount$214,380
Down payment$53,595
Rate6.50%
Term30 years
-Operating costs-$665
Property taxes-$268
Insurance-$175
Utilities$0
HOA$0
Management-$222
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$35,485(66.2% ROI)
Projected value
$288,579
Return breakdown
Property appreciation+$20,605
Loan principal paid down+$7,681
Rental cash flow+$7,200
5-year hold
+$60,911(113.7% ROI)
Projected value
$303,189
Return breakdown
Property appreciation+$35,214
Loan principal paid down+$13,697
Rental cash flow+$12,000
10-year hold
+$131,692(245.7% ROI)
Projected value
$343,030
Return breakdown
Property appreciation+$75,056
Loan principal paid down+$32,637
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 34138 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 34138 (Chokoloskee, FL) is $2,220 a month. That is up 11.6% from $1,990 in FY 2026. Chokoloskee is in the Naples-Marco Island, 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 $2,036. Among 27 ZIP codes in Collier County, 34138 is tied for the 10th-highest two-bedroom rent (county range $1,790–$2,490). The median county two-bedroom FMR in Florida is $1,474, so ZIP 34138 is 51% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 34138
BedroomsFY 2027Change90–110% range
Studio$1,550+10.7%$1,395–$1,705
1BR$2,040+13.3%$1,836–$2,244
2BR$2,220+11.6%$1,998–$2,442
3BR$2,820+8.9%$2,538–$3,102
4BR$3,070+9.3%$2,763–$3,377

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 34138
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,550$2,040$2,220$2,820$3,070
FY 2026$1,400$1,800$1,990$2,590$2,810
FY 2025$1,360$1,600$1,860$2,450$2,660
FY 2024$1,330$1,490$1,780$2,370$2,490
FY 2023$1,000$1,170$1,430$1,880$1,940

Two-bedroom rent in nearby Collier County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 34138
34117$2,000−9.9%
34119$2,250+1.4%
34120$2,490+12.2%
34134$1,980−10.8%
34137$1,940−12.6%
34138Current$2,220—
34139$2,120−4.5%
34140$2,300+3.6%
34141$2,050−7.7%
34142$1,790−19.4%
34145$2,300+3.6%
34146$2,040−8.1%

Questions about ZIP 34138 rents

How much will Section 8 pay for a two-bedroom in ZIP 34138?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,036, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,832 to $2,240 a month; under the ZIP-level Small Area FMR of $2,220 it would be $1,998 to $2,442. 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 34138 in?

ZIP 34138 is in the Naples-Marco Island, FL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,036.

How much did fair market rent change in ZIP 34138 for FY 2027?

The two-bedroom FMR rose 11.6%, from $1,990 in FY 2026 to $2,220 in FY 2027. Since FY 2023 it has risen 55.2%.

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