The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Key Biscayne, FL 33149's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 33149 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $2,277 to a high of $2,783, with an average of $2,530.
One-bedroom: One-bedroom rental prices vary, with a minimum of $2,547, a maximum of $3,113, and an average of $2,830.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $3,141, peaking at a maximum of $3,839, and averaging at $3,490.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $4,095, a maximum of $5,005, and an average of $4,550.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $4,851 to a maximum of $5,929, with an average of $5,390.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Key Biscayne, FL 33149 Low Rent (90%) $2,277 $2,547 $3,141 $4,095 $4,851
Average Rent $2,530 $2,830 $3,490 $4,550 $5,390
High Rent(110%) $2,783 $3,113 $3,839 $5,005 $5,929
2023 Key Biscayne, FL 33149 Low Rent (90%) $1,836 $2,079 $2,592 $3,411 $4,041
Average Rent $2,040 $2,310 $2,880 $3,790 $4,490
High Rent (110%) $2,244 $2,541 $3,168 $4,169 $4,939
2022 Key Biscayne, FL 33149 Low Rent (90%) $1,566 $1,800 $2,259 $2,997 $3,555
Average Rent $1,740 $2,000 $2,510 $3,330 $3,950
High Rent(110%) $1,914 $2,200 $2,761 $3,663 $4,345
2021 Key Biscayne, FL 33149 Low Rent (90%) $1,431 $1,665 $2,097 $2,799 $3,357
Average Rent $1,590 $1,850 $2,330 $3,110 $3,730
High Rent (110%) $1,749 $2,035 $2,563 $3,421 $4,103
2020 Key Biscayne, FL 33149 Low Rent (90%) $1,467 $1,737 $2,196 $2,925 $3,537
Average Rent $1,630 $1,930 $2,440 $3,250 $3,930
High Rent(110%) $1,793 $2,123 $2,684 $3,575 $4,323
2019 Key Biscayne, FL 33149 Low Rent (90%) $1,287 $1,548 $1,962 $2,610 $3,177
Average Rent $1,430 $1,720 $2,180 $2,900 $3,530
High Rent (110%) $1,573 $1,892 $2,398 $3,190 $3,883


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