Monroe County, FL: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$2,2542-bedroom FMR, FY2027

$1,9901-bedroom FMR, FY2027

$114,65080% income limit, family of 4 (FY2026)

$129,600Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Monroe County is $2,254 a month, down 10.0% from $2,504 in FY2026. Monroe County belongs to the Monroe County, FL FMR area (non-metro county), so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Monroe County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$1,554	$1,726	−10.0%	$1,399 – $1,709
1 bedroom	$1,990	$2,211	−10.0%	$1,791 – $2,189
2 bedrooms	$2,254	$2,504	−10.0%	$2,029 – $2,479
3 bedrooms	$2,973	$3,303	−10.0%	$2,676 – $3,270
4 bedrooms	$2,984	$3,315	−10.0%	$2,686 – $3,282

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Monroe County that is typically $2,029 to $2,479 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$64,941median income of renter households

$1,999Median gross rent, all units

37%Rent-to-income ratio (median rent ÷ median renter income)

65%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $64,941 can afford about $1,624 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $2,254 is $630 (38.8%) more than that. To rent a two-bedroom at the FMR, a household needs $90,160 a year under the 30% rule, or $81,144 under the common landlord rule that income must be three times the rent.

Monroe County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,999 ±$108
Median income of renter households	$64,941 ±$5,432
Renters paying 30% or more of income (cost-burdened)	64.5% ±4.2
Renters paying 50% or more (severely cost-burdened)	34.5% ±3.4
Renter households (where the share can be computed)	10,914

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$1,627	$1,999	+22.9%
Median renter household income	$52,700	$64,941	+23.2%
Renters paying 30%+ of income	59.1%	64.5%	+5.4 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

HUD income limits for Monroe County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $129,600 (FY2025: $118,000, +9.8%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$30,100 +9.9%	$34,400 +9.9%	$38,700 +9.9%	$43,000 +10.0%	$46,450 +9.9%	$49,900 +9.9%	$53,350 +9.7%	$56,800 +4.9%
Very low income (50%)	$50,200 +10.0%	$57,300 +10.0%	$64,500 +10.0%	$71,650 +10.0%	$77,350 +10.0%	$83,100 +10.0%	$88,850 +10.0%	$94,600 +10.0%
Low income (80%)	$80,300 +10.0%	$91,700 +10.0%	$103,200 +10.0%	$114,650 +10.0%	$123,850 +10.0%	$133,000 +10.0%	$142,200 +10.0%	$151,350 +10.0%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.