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 | $1,930 |
| 1 Bedroom | $2,090 |
| 2 Bedrooms | $2,550 |
| 3 Bedrooms | $3,480 |
| 4 Bedrooms | $4,020 |
| 5 Bedrooms | $4,663 |
| 6 Bedrooms | $5,223 |
| 7 Bedrooms | $5,641 |
| 8 Bedrooms | $5,923 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,090 | $147,563 | 1.42% | A |
| 2BR | $2,550 | $250,915 | 1.02% | B |
| 3BR | $3,480 | $442,434 | 0.79% | D |
| 4BR | $4,020 | $674,589 | 0.6% | F |
| 5BR | $4,663 | $1,178,649 | 0.4% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 33314, which encompasses Davie, FL, in Broward County, operate based on specific financial metrics. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) for FY 2024 is set at $2090. This SAFMR figure is crucial because it is tailored specifically to this ZIP code, reflecting local rental conditions accurately.
Local market rents, as indicated by ZORI (Zillow Observed Rent Index), currently stand at $2,364. This represents the average rent price for a similar unit in the area. It's important to understand that the SAFMR does not directly equate to the amount a landlord will receive from a Section 8 voucher. Instead, it sets the upper limit for what the government considers a reasonable rent for subsidized housing units.
A Section 8 voucher pays a significant portion of the tenant's rent, but not the entirety. The tenant is responsible for paying 30% of their adjusted income towards rent. In addition to this base payment, there are utility allowances that can vary depending on the household's needs and the region. These allowances are designed to cover the cost of utilities such as electricity, water, and gas.
To illustrate, if the tenant's adjusted income is $1,500 per month, they would pay 30% of that, which amounts to $450. The remaining $1,640 would be covered by the voucher program, but only up to the SAFMR of $2090. Therefore, the maximum reimbursement a landlord can receive from the voucher program for a two-bedroom apartment is $2090.
In ZIP 33314, where the local market rent is $2,364, this creates a reimbursement gap. Landlords will have to accept a lower rent payment compared to the market rate, resulting in a shortfall of $274 per month for a two-bedroom unit. This gap reflects the difference between the SAFMR and the actual market rent, indicating that landlords may need to adjust their expectations when renting to tenants with Section 8 vouchers.
In summary, landlords in ZIP 33314 should expect to receive a maximum of $2090 for a two-bedroom apartment under the Section 8 program, which is less than the local market rent of $2,364. This results in a monthly reimbursement gap of $274. While the SAFMR provides a clear guideline for rent limits, the actual reimbursement depends on the tenant's income and utility needs, ensuring that the total does not exceed the established SAFMR for the area.
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.