Section 8 Fair Market Rent (FMR) for ZIP 33321 - 2027

Investment Score for ZIP 33321

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	$1,840
1 Bedroom	$2,010
2 Bedrooms	$2,470
3 Bedrooms	$3,410
4 Bedrooms	$4,030
5 Bedrooms	$4,675
6 Bedrooms	$5,236
7 Bedrooms	$5,655
8 Bedrooms	$5,938

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	$2,010	$107,574	1.87%	A+
2BR	$2,470	$235,491	1.05%	B
3BR	$3,410	$422,075	0.81%	C
4BR	$4,030	$556,001	0.72%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 33321 (Tamarac, FL) #### Section 8 Voucher Dynamics In ZIP code 33321, the Fair Market Rent (FMR) for a two-bedroom apartment is set at $2,740 per month. This amount represents 53.0% of the median household income in the area, which stands at $62,066. For voucher holders, the rent they pay is typically capped at 30% of their adjusted income, meaning that a significant portion of the rent would be covered by the voucher. However, the actual rental market in Tamarac shows a different picture. According to Zillow, the median price for a two-bedroom home is $240,766, which translates to a monthly mortgage payment of approximately $1,200 assuming a 30-year fixed-rate mortgage at a 4.5% interest rate. Given the high price-to-FMR ratio of 7.3x, it is clear that the actual rents in the market are significantly higher than the FMR. Therefore, voucher holders face a constraint in finding units that accept their vouchers and are within the FMR limits. The gap between the FMR and actual rents can make it challenging for voucher holders to secure housing, especially in a competitive market like Tamarac. #### Affordability & Renter Profile The renter population in ZIP code 33321 accounts for 22.2% of the total population, indicating a moderate presence of renters in the area. With an occupancy rate of 92.3%, the market appears to be relatively tight, suggesting that there is a strong demand for rental properties. The median household income of $62,066 places Tamarac in a middle-income bracket, where affordability is a concern for many residents. The FMR for a two-bedroom unit being $2,740 means that even if a tenant were to use a Section 8 voucher, they would still need to contribute around $822 per month towards rent, assuming they earn the median income. This contribution can be a significant burden for low-income households, highlighting the importance of affordable housing options in the area. #### Investor Angle From an investor perspective, the ZIP code 33321 presents both opportunities and challenges. The FMR for a two-bedroom unit is $2,740, but the actual rents in the market are much higher, as indicated by the price-to-FMR ratio of 7.3x. This suggests that landlords who are willing to accept Section 8 vouchers might find themselves in a cash-flow positive position, as long as they can manage the administrative requirements associated with the program. However, the high price-to-FMR ratio also implies that the overall rental market is expensive, which could deter some potential investors looking for immediate returns. In terms of investment grade, Tamarac is likely to be considered a medium-risk area due to its moderate renter population and tight occupancy rates. Investors should carefully consider the balance between the potential for higher rents and the demand for affordable housing when making investment decisions. #### Specific Actionable Insights 1. **Focus on Affordable Units**: Investors should focus on acquiring properties that are priced close to the FMR levels. For example, a two-bedroom unit priced at $2,740 or slightly above would be more attractive to voucher holders and potentially offer better occupancy rates. This strategy aligns with the needs of the local renter population and ensures a steady stream of tenants. 2. **Consider Property Management Services**: Given the administrative complexities of managing Section 8 properties, investors might benefit from partnering with experienced property management companies. These services can help navigate the paperwork and compliance issues, ensuring smoother operations and minimizing the risk of non-payment or other issues that could arise. 3. **Evaluate Property Location**: Properties located in areas with higher concentrations of low-income households may have a greater likelihood of attracting Section 8 tenants. Investors should conduct a thorough analysis of the neighborhood demographics to identify the most promising locations within ZIP code 33321. #### Bottom Line For Section 8-focused investors, ZIP code 33321 presents a mixed scenario. While the high price-to-FMR ratio indicates a competitive market, the demand for affordable housing and the presence of a moderate renter population suggest that there are opportunities to be had. The recommendation for investors is to **Hold** properties that are already within the FMR range and to **Buy** additional units that can be priced competitively. However, investors should proceed with caution and ensure that they have the necessary resources to manage the administrative aspects of Section 8 properties effectively. --- This analysis provides a comprehensive overview of the rental market dynamics in ZIP code 33321, focusing specifically on the implications for Section 8 voucher holders and investors. By leveraging the provided data, we can see that while the market is tight and rents are high, there are strategic opportunities for those willing to engage with the Section 8 program.

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.