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 | $1,890 |
| 1 Bedroom | $2,050 |
| 2 Bedrooms | $2,500 |
| 3 Bedrooms | $3,420 |
| 4 Bedrooms | $3,940 |
| 5 Bedrooms | $4,570 |
| 6 Bedrooms | $5,118 |
| 7 Bedrooms | $5,527 |
| 8 Bedrooms | $5,803 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,050 | $261,135 | 0.79% | D |
| 2BR | $2,500 | $535,594 | 0.47% | F |
| 3BR | $3,420 | $990,837 | 0.35% | F |
| 4BR | $3,940 | $1,473,761 | 0.27% | F |
| 5BR | $4,570 | $3,958,904 | 0.12% | F |
U.S. Census Bureau data (2024)
ZIP code 33304, located in Fort Lauderdale, FL, falls within the Fort Lauderdale, FL HUD Metro FMR Area. The Fair Market Rent (FMR) for 33304 is set at $2110 for fiscal year 2024. This figure represents the maximum amount that a household receiving Section 8 assistance can pay for rent in this area.
The market rent in 33304 is $2,542, which is higher than the FMR but indicative of the competitive rental market in this part of Fort Lauderdale. The median home value in 33304 is $598,931, placing it above average compared to the broader metro area's typical home values. However, the renter share in 33304 is quite high at 60.5%, suggesting a significant portion of residents prefer renting over owning.
To determine whether 33304 is a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro, we must consider these figures relative to the broader Fort Lauderdale, FL HUD Metro FMR Area. A high renter share combined with a below-metro average home value would typically signal a Section 8 sweet spot, but in this case, the home value is above average, indicating a more affluent area despite the high rental activity.
The FMR of $2110 is likely lower than what many landlords could charge on the open market, given the market rent of $2,542. This suggests that while there is a demand for rental properties, landlords might find themselves slightly constrained by the maximum allowable rent under Section 8. However, the high renter share makes this ZIP code attractive for those looking to invest in rental properties, especially those willing to participate in the Section 8 program.
In conclusion, ZIP 33304 appears to be a mid-tier neighborhood within the Fort Lauderdale, FL HUD Metro FMR Area. It offers opportunities for both rental income and home ownership, with a strong preference for renting among its residents. Landlords should be aware that participating in the Section 8 program may limit their ability to charge market rents, but the high proportion of renters can make it a lucrative area for investment.
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.