Sarasota Rent Limits Differ Regionally for Housing Aid

SARASOTA — Benchmarks for federal housing assistance programs are moving in opposite directions across the region, according to a report released last week by Housing Stability IQ. The firm analyzed fair market rents in metropolitan statistical areas from Tampa south to Naples.

The data, based on HUD Fair Market Rents, defines these figures as gross-rent benchmarks for specific areas. These figures include rent and the cost of necessary utilities.

Fair market rents set payment limits for housing certificate and voucher programs. In the certificate program, households cannot rent units with a gross rent higher than this benchmark. For the voucher program, participants receive a subsidy equal to the difference between the fair market rent and 30% of their monthly income. Participants in the voucher program may occupy units with gross rents exceeding the fair market rent but must pay the difference between the rent and the fair market rent, plus 30% of their income.

The North Port-Bradenton-Sarasota benchmark increased 11.7% monthly to $2,188. The Naples-Marco Island benchmark rose 2.5% to $2,036. In contrast, the Cape Coral-Fort Myers benchmark decreased 6.4% to $1,835, and the Tampa-St. Petersburg-Clearwater benchmark fell 3% to $1,917.