Location: Fort Lauderdale, FL | Metro: Fort Lauderdale, FL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,660 |
| 1 Bedroom | $1,790 |
| 2 Bedrooms | $2,190 |
| 3 Bedrooms | $2,990 |
| 4 Bedrooms | $3,450 |
| 5 Bedrooms | $4,002 |
| 6 Bedrooms | $4,482 |
| 7 Bedrooms | $4,841 |
| 8 Bedrooms | $5,083 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,790 | $169,348 | 1.06% | B |
| 2BR | $2,190 | $343,987 | 0.64% | D |
| 3BR | $2,990 | $500,534 | 0.6% | F |
| 4BR | $3,450 | $619,199 | 0.56% | F |
| 5BR | $4,002 | $914,500 | 0.44% | F |
U.S. Census Bureau data (2024)
Pembroke Pines, specifically the 33024 ZIP code, functions as a stable, family-centric suburb within Broward County. The area is characterized by well-maintained single-family homes and townhouse communities, attracting households looking for suburban quiet while remaining accessible to the broader Fort Lauderdale metro. A major economic anchor near this sector is Memorial Healthcare System, which provides significant local employment and supports a steady population of medical professionals and service workers seeking nearby housing. The neighborhood generally retains a safe, residential reputation with ample parks and retail plazas, reinforcing its appeal for long-term tenancy.
Financially, the market presents a distinct spread between voucher limits and private market rates. The HUD FY2024 SAFMR for a 2-bedroom unit in this ZIP is $1,970, while the current market rent sits significantly higher at $2,444, creating a negative gap of $474 for standard voucher caps. However, investors should note the FY2026 Full FMR ladder projects a 2BR rate of $2,290, which narrows but does not close the spread. With median home values at $465,748 and a median days on market of 83 days, the asset class shows moderate liquidity, though the high price-to-rent ratio suggests tight cash-flow margins under current payment standards.
Demand fundamentals appear robust, bolstered by a solid renter share of 36.0% and a median household income of $80,061. This income level exceeds typical voucher thresholds, indicating a mixed tenant pool where voucher holders compete with working-class professionals who can afford market rates. The area’s desirability is further supported by access to highly-rated public schools within the Broward County School District and convenient proximity to major thoroughfares like I-75 and the Florida Turnpike. These amenities make the location attractive for families, potentially reducing vacancy risk for landlords offering quality units.
Investors targeting Pembroke Pines 33024 should prioritize appreciation and stability over immediate cash-flow. The $474 gap between market rent and the 2024 SAFMR means standard Section 8 payments will likely not cover top-tier market rents, pressuring yields unless acquisition costs are negotiated well below the $465,748 median value. The strongest angle here is betting on long-term asset appreciation in a high-demand suburb, using the Section 8 program to secure reliable, government-backed tenants rather than achieving maximum monthly rent premiums.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.