Section 8 Fair Market Rent (FMR) for ZIP 33073 - 2027

Location: Fort Lauderdale, FL | Metro: Fort Lauderdale, FL HUD Metro FMR Area

Investment Score for ZIP 33073

Monthly Rent (2BR)

$2,790

Median Price (2BR)

$239,369

1% Rule

1.17%

Annual Yield

13.99%

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	$2,110
1 Bedroom	$2,290
2 Bedrooms	$2,790
3 Bedrooms	$3,810
4 Bedrooms	$4,400
5 Bedrooms	$5,104
6 Bedrooms	$5,716
7 Bedrooms	$6,173
8 Bedrooms	$6,482

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	$2,290	$167,171	1.37%	A
2BR	$2,790	$239,369	1.17%	B
3BR	$3,810	$506,424	0.75%	D
4BR	$4,400	$653,513	0.67%	D
5BR	$5,104	$818,196	0.62%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

33,838

Median Household Income

$97,412

Housing Units

12,870

Renter Percentage

43.9%

Occupancy Rate

95.0%

Renter Occupied

5,368

The economics of Section 8 in ZIP code 33073, which encompasses Coconut Creek, FL, in Broward County, are driven by the Specific Area Fair Market Rent (SAFMR) and the local market rent known as the Zillow Observed Rent Index (ZORI). For a two-bedroom apartment, the SAFMR for fiscal year 2024 is set at $2,520. This figure represents the maximum amount that the housing authority will pay toward the rent subsidy. However, it's important to note that this rate is specifically tailored for this ZIP code and may differ from other areas.

The local market rent, as indicated by ZORI, is slightly lower at $2,508. This suggests that the SAFMR aligns closely with the average rental rates in the area, making it feasible for landlords to participate in the program without significant financial loss.

To understand how the voucher actually pays, consider the following breakdown:

Tenant Portion: The tenant is typically responsible for paying 30% of their adjusted income towards rent. If we assume an average adjusted income of $2,000 per month, the tenant would contribute approximately $600 towards the rent.
Housing Authority Portion: The housing authority would then cover the difference between the tenant's contribution and the SAFMR, up to $2,520. In this case, the housing authority would pay around $1,920 per month.
Utility Allowances: Utility allowances can vary but generally add a few hundred dollars to the total reimbursement. Assuming a utility allowance of $300, the total reimbursement would be approximately $2,220 per month.

This calculation shows that landlords in ZIP 33073 would receive a total of about $2,220 per month for a two-bedroom apartment under the Section 8 program. Given the SAFMR of $2,520 and the ZORI of $2,508, landlords participating in the program would experience a slight surplus, as the reimbursement exceeds the local market rent.

The typical reimbursement gap or surplus for a two-bedroom apartment in this ZIP code would be around $212 per month. This surplus is due to the utility allowance and the alignment of the SAFMR with the local market conditions, providing landlords with a margin above the standard market rent.

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.