Section 8 Fair Market Rent (FMR) for ZIP 33319 - 2027

Investment Score for ZIP 33319

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	$1,700
1 Bedroom	$1,840
2 Bedrooms	$2,240
3 Bedrooms	$3,060
4 Bedrooms	$3,530
5 Bedrooms	$4,095
6 Bedrooms	$4,586
7 Bedrooms	$4,953
8 Bedrooms	$5,201

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	$1,840	$89,097	2.07%	A+
2BR	$2,240	$140,627	1.59%	A+
3BR	$3,060	$397,496	0.77%	D
4BR	$3,530	$570,331	0.62%	D
5BR	$4,095	$714,304	0.57%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 33319 (Tamarac, FL) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 33319 is set by HUD for 2026 as follows: - 0BR: $1730 - 1BR: $1900 - 2BR: $2330 - 3BR: $3210 - 4BR: $3800 These figures represent the maximum amount that a Section 8 voucher holder can pay towards rent based on the size of the unit. However, it's important to note that the actual rents in the area may exceed these amounts. For instance, the Zillow median price for a 2BR unit is $145,029, which translates into a rental cost significantly higher than the FMR. The price-to-FMR ratio for 2BR units is 5.2x, indicating that the actual rents are much higher than what the vouchers cover. This means that voucher holders face significant constraints in finding suitable housing. A 2BR unit priced at $2330 would consume nearly 48% of the median household income, making it challenging for residents to afford other necessities while staying within the voucher limits. Additionally, landlords may be hesitant to accept vouchers due to the higher administrative burden and potential delays in payment. #### Affordability & Renter Profile ZIP code 33319 has a population of 54,450, with 31.9% of the households being renters. The occupancy rate stands at 85.6%, suggesting a relatively tight rental market. Given that 2BR units are priced at $145,029 on average, and the FMR for such units is $2330, it becomes clear that affordability is a significant issue for many renters, especially those relying on Section 8 vouchers. The median household income in Tamarac is $58,388, which means that a substantial portion of the population may struggle to find affordable housing. The high price-to-FMR ratio indicates that there is a mismatch between the actual rental costs and what voucher holders can afford. This tight market could lead to increased competition among renters and potentially drive up rental prices further. #### Investor Angle From an investor perspective, the ZIP code 33319 presents a mixed picture. While the FMRs provide a baseline for rental pricing, the actual market rents are much higher. To determine if the ZIP is cash-flow positive at FMR, we need to consider the typical rental yields and the cost of acquiring properties. Given the Zillow median price for a 2BR unit at $145,029, and assuming a conservative cap rate of 5%, the expected annual rental income would be approximately $7,251. This translates to a monthly rental income of around $604.25, which is far below the FMR of $2330 for a 2BR unit. Therefore, properties rented at FMR levels would likely not generate sufficient cash flow to cover mortgage payments, maintenance, and other operational costs. The investment grade for this ZIP code is moderate to low, given the high price-to-FMR ratio and the tight rental market. Investors should be cautious about relying solely on FMRs to determine rental pricing, as they may not reflect the true market dynamics. #### Specific Actionable Insights 1. **Target Lower-Rent Properties**: Focus on acquiring properties that can be rented at or slightly above the FMR levels. For example, a 2BR unit priced at $2330 would be more attractive to voucher holders and could still generate reasonable returns if the acquisition cost is lower than the Zillow median price. 2. **Consider Short-Term Rentals**: Given the high price-to-FMR ratio, short-term rentals like vacation homes or Airbnb listings might offer better cash flow opportunities. These properties can command higher rents and may be less reliant on long-term tenants who require Section 8 vouchers. 3. **Engage with Local Housing Authorities**: Building relationships with local housing authorities can help in securing more Section 8 tenants. Understanding the specific requirements and processes can streamline the leasing process and reduce vacancy rates. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 33319 is to **Skip**. The high price-to-FMR ratio and the tight rental market make it challenging to achieve positive cash flow when renting at FMR levels. Instead, investors might want to explore areas with lower ratios or where the rental market is more balanced. If investing in this ZIP code, it is crucial to focus on properties that can be rented at or near the FMR to ensure viability.

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.