Section 8 Fair Market Rent (FMR) for ZIP 33065 - 2027

Investment Score for ZIP 33065

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	$1,800
1 Bedroom	$1,940
2 Bedrooms	$2,370
3 Bedrooms	$3,240
4 Bedrooms	$3,740
5 Bedrooms	$4,338
6 Bedrooms	$4,859
7 Bedrooms	$5,248
8 Bedrooms	$5,510

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	$1,940	$118,001	1.64%	A+
2BR	$2,370	$178,174	1.33%	A
3BR	$3,240	$445,624	0.73%	D
4BR	$3,740	$653,386	0.57%	F
5BR	$4,338	$784,277	0.55%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 33065 (Coral Springs, FL) #### Section 8 Voucher Dynamics In ZIP code 33065, the Fair Market Rent (FMR) for a two-bedroom unit is set at $2,460 per month. This represents 39.8% of the median household income of $74,226, indicating that it is a significant portion of the average resident's earnings. However, the actual rental market prices can be quite different from these figures. According to Zillow, the median price for a two-bedroom home in Coral Springs is $181,985, which translates into a monthly rent of approximately $758 based on a typical 4.5% cap rate. This suggests that the actual rental market price is significantly lower than the FMR, with a price-to-FMR ratio of 6.2x. This high ratio means that landlords participating in the Section 8 program are likely receiving rents well above the market rate. However, the constraints for voucher holders are significant. The $2,460 FMR is nearly three times higher than the actual median rental price, making it challenging for tenants to find units within their budget. Additionally, the voucher payment is capped at the FMR, so tenants might have to pay additional out-of-pocket costs if they choose to live in a unit priced closer to the actual market rate. #### Affordability & Renter Profile The renter population in ZIP code 33065 is substantial, accounting for 50.7% of the total population. With a median household income of $74,226, the affordability of housing is a critical issue. The occupancy rate of 93.9% indicates a robust demand for rental properties, suggesting that the market is relatively tight. Given the high price-to-FMR ratio, there is a clear mismatch between what voucher holders can afford and what is available in the market. This tightness in the rental market could lead to upward pressure on rents, especially if the supply of affordable units does not keep pace with demand. #### Investor Angle From an investor perspective, the ZIP code 33065 presents a potentially lucrative opportunity. The FMR for a two-bedroom unit is $2,460, which is substantially higher than the median rental price of $758 derived from the Zillow median home value. This means that landlords who accept Section 8 vouchers can expect to receive rents that are well above the market rate, providing a strong potential for positive cash flow. However, the investment grade depends on several factors including the cost of acquisition, maintenance, and vacancy rates. Based on the Zillow median price of $181,985, a landlord could achieve a cash-on-cash return of around 18% if they were able to secure a property at this price point and maintain a full occupancy rate. This calculation assumes a 20% down payment and a 4.5% cap rate, which is typical for residential real estate investments. Despite the attractive cash flow potential, investors should be aware of the administrative complexities associated with the Section 8 program, such as regular inspections, compliance with HUD standards, and the need to work closely with local housing authorities. These factors can impact the overall profitability and ease of managing Section 8 properties. #### Specific Actionable Insights 1. **Target Properties Below Zillow Median**: Investors should focus on acquiring properties below the Zillow median price of $181,985. This would allow them to maximize their cash-on-cash returns while still offering affordable housing options to voucher holders. For instance, a property priced at $150,000 would yield a monthly rental income of approximately $675, leading to a cash-on-cash return of about 21% if purchased with a 20% down payment. 2. **Focus on Two-Bedroom Units**: Given the high price-to-FMR ratio, two-bedroom units offer the best balance between demand and financial feasibility. At $2,460 per month, these units are within the FMR range and provide a good income stream. Moreover, the demand for two-bedroom units is likely to be high due to the significant number of renters in the area. 3. **Consider Location and Condition**: While the financials look promising, the location and condition of the property are also crucial. Properties in prime locations with minimal required renovations will command higher rents and have better occupancy rates. Conversely, properties in less desirable areas or requiring extensive repairs might struggle to attract tenants despite the higher FMR. #### Bottom Line Given the high FMR relative to market rates and the significant proportion of renters in the area, ZIP code 33065 appears to be a favorable market for Section 8-focused investors. The strong demand and potential for positive cash flow make it a buy recommendation. However, investors should carefully consider the administrative overhead and ensure that they target properties that are both financially sound and well-positioned to attract tenants. In summary, the key points for investors are: - Focus on properties priced below $181,985. - Prioritize two-bedroom units for optimal financial performance. - Ensure properties are in good condition and located in desirable areas to maintain high occupancy rates. ZIP code 33065 presents a solid opportunity for those willing to navigate the complexities of the Section 8 program.

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.