Section 8 Fair Market Rent (FMR) for ZIP 33009 - 2027

Investment Score for ZIP 33009

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,730
1 Bedroom	$1,870
2 Bedrooms	$2,280
3 Bedrooms	$3,120
4 Bedrooms	$3,600
5 Bedrooms	$4,176
6 Bedrooms	$4,677
7 Bedrooms	$5,051
8 Bedrooms	$5,304

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,870	$179,063	1.04%	B
2BR	$2,280	$307,898	0.74%	D
3BR	$3,120	$567,853	0.55%	F
4BR	$3,600	$624,829	0.58%	F
5BR	$4,176	$3,069,791	0.14%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 33009 (Hallandale, FL) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 33009 is set by HUD for the year 2026. For a two-bedroom unit, the FMR is $2,390, which represents 55.1% of the median household income of $52,079. This indicates that the rent for a two-bedroom unit is relatively affordable compared to the income levels in Hallandale. However, it's important to note that the actual rents in the area might be higher than the FMR, as evidenced by the price-to-FMR ratio of 10.8x for a two-bedroom unit. The Zillow median price for a two-bedroom rental property is $309,619, suggesting that landlords could charge much more than the FMR. This creates a significant constraint for Section 8 voucher holders, who can only pay up to the FMR amount, leaving them with limited options in the market. #### Affordability & Renter Profile With a population of 44,502 and a renter percentage of 44.4%, Hallandale has a substantial number of renters. Given the occupancy rate of 67.8%, the market appears to be moderately tight, indicating that there is a reasonable demand for rental properties but not necessarily a shortage. The median household income of $52,079 suggests that many residents may struggle to afford market-rate rents, particularly for larger units like three-bedroom ($3,290) and four-bedroom ($3,900) apartments. The FMR for these units is significantly lower than what the market might bear, making it challenging for low-income households to find suitable housing without assistance. #### Investor Angle From an investor perspective, the ZIP code 33009 offers mixed potential for cash flow when considering Section 8 vouchers. The FMR for a two-bedroom unit is $2,390, while the Zillow median price for such a unit is $309,619. This implies that if an investor purchases a two-bedroom property at the median price, they would need to achieve a high rental yield to cover costs and generate profit. Assuming a conservative annual mortgage payment of around $15,000 based on a 5% interest rate and a 30-year term, the monthly cost would be approximately $1,250. Adding typical operating expenses such as maintenance, insurance, and property taxes, which could range from $500 to $700 per month, the total monthly cost for an investor would be between $1,750 and $1,950. Given that the FMR for a two-bedroom unit is $2,390, the cash flow would be positive, ranging from $440 to $640 per month. However, the price-to-FMR ratio of 10.8x suggests that the purchase price is substantially higher than the rent that can be charged under the Section 8 program. This makes the investment less attractive from a purely financial standpoint, especially since the market-rate rents are likely much higher. Therefore, the investment grade for Section 8-focused investors in this ZIP code would be moderate, with a focus on properties that can be rented out at or near the FMR. #### Specific Actionable Insights 1. **Target Smaller Units**: Investors should consider focusing on one-bedroom and smaller units, where the FMR is $1,950. These units are more likely to be affordable for low-income households and can still provide positive cash flow given the lower median purchase price. For instance, a one-bedroom unit purchased at a median price of $250,000 would have a monthly mortgage payment of about $1,250, leaving a positive cash flow of around $700 per month after accounting for operating expenses. 2. **Consider Location-Specific Factors**: Hallandale is part of Broward County, which has a diverse economy driven by tourism, healthcare, and manufacturing. Investors should look for properties in areas with strong employment centers or near public transportation hubs, as these locations tend to attract more stable tenants. Additionally, properties close to schools and community facilities may be more desirable for families, potentially increasing the likelihood of securing long-term tenants. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 33009 is to **Hold**. While the market offers some opportunities for positive cash flow, especially with smaller units, the high price-to-FMR ratio and the tight market conditions make it challenging to find properties that can be rented out at the FMR without significant difficulty. Investors should carefully evaluate their portfolio and consider diversifying into other ZIP codes with better alignment between purchase prices and FMRs. If an investor already owns properties in this ZIP code, maintaining them and ensuring they meet Section 8 requirements is advisable, as the demand for affordable housing remains steady. However, new investments should be approached with caution, given the financial constraints imposed by the FMR.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.