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 | $2,340 |
| 1 Bedroom | $2,530 |
| 2 Bedrooms | $3,090 |
| 3 Bedrooms | $4,220 |
| 4 Bedrooms | $4,870 |
| 5 Bedrooms | $5,649 |
| 6 Bedrooms | $6,327 |
| 7 Bedrooms | $6,833 |
| 8 Bedrooms | $7,175 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,090 | $408,378 | 0.76% | D |
| 3BR | $4,220 | $565,104 | 0.75% | D |
| 4BR | $4,870 | $759,833 | 0.64% | D |
| 5BR | $5,649 | $977,589 | 0.58% | F |
U.S. Census Bureau data (2024)
The ZIP code 33028, located in Pembroke Pines, Florida, stands out within Broward County due to its significant population of 28,397 residents, where 21.7% are renters. The median income in this area is notably high at $119,091, reflecting a robust economic environment. This is further underscored by the median home value of $675,065, indicating that homeownership is a substantial component of the local economy.
Turning to the economics of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 33028 in fiscal year 2024 is set at $3,110. In comparison, the Zillow Observed Rental Index (ZORI), which measures actual market rents, stands at $3,380. This suggests that landlords participating in the Section 8 program in Pembroke Pines can expect to receive slightly below-market rates, though the difference is relatively modest. The discrepancy between FMR and ZORI is a key consideration for landlords when deciding whether to accept Section 8 tenants.
Based on the data signature of ZIP 33028, it appears to be a stable area. The high median income and median home value indicate a strong financial foundation among its residents. Additionally, the slight gap between the FMR and market rent suggests that while there might be some pressure on rental prices, the overall market remains steady. For small-portfolio investors and landlords, this stability means consistent demand for rental properties and predictable income streams, albeit at rates slightly lower than the market average.
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.