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 | $1,440 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,900 |
| 3 Bedrooms | $2,600 |
| 4 Bedrooms | $3,000 |
| 5 Bedrooms | $3,480 |
| 6 Bedrooms | $3,898 |
| 7 Bedrooms | $4,210 |
| 8 Bedrooms | $4,421 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,560 | $185,148 | 0.84% | C |
| 2BR | $1,900 | $411,610 | 0.46% | F |
| 3BR | $2,600 | $1,048,133 | 0.25% | F |
| 4BR | $3,000 | $1,594,565 | 0.19% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 33306, located in Fort Lauderdale, Florida, stands at $95,542. This figure is crucial when assessing whether a household can afford the market rate rent, which is currently set at $2,367 per month (ZORI).
To put this into perspective, let’s consider the monthly income derived from the median annual income. A household earning $95,542 annually would have a monthly income of approximately $7,962. Based on common financial advice, housing costs should not exceed 30% of one's gross income. For households in ZIP 33306, this translates to a maximum affordable rent of around $2,389 per month. Thus, the market rate of $2,367 is nearly at the upper limit of affordability for the average household.
However, not all residents in ZIP 33306 earn the median income. The Federal Market Rent (FMR) for the area, as of fiscal year 2024, is set at $1,700. This means that households relying on Section 8 vouchers can only secure rental units up to this amount. Given the market rate of $2,367, there is a significant affordability gap for voucher holders, indicating that many properties in the area may be out of reach for those who depend solely on vouchers.
ZIP 33306 has a rental population of 2,978, with 26.0% of the total population being renters. This suggests that landlords face competition not just from other rental properties but also from homeownership options, which might be more attractive given the relatively high median income.
The takeaway for landlords considering voucher versus cash-pay strategies is clear. While accepting vouchers ensures a steady, government-backed income stream, it limits your potential tenant pool to those who can only afford units priced at or below $1,700. On the other hand, targeting cash-paying tenants allows you to tap into a larger portion of the local market, but you must be prepared to compete with higher-end rental offerings and possibly accept some level of risk associated with renter payment reliability.
Landlords in ZIP 33306 should carefully weigh these factors and consider diversifying their portfolio to include both voucher-eligible and cash-paying units to maximize occupancy and income stability.
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.