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 | $2,430 |
| 1 Bedroom | $2,620 |
| 2 Bedrooms | $3,200 |
| 3 Bedrooms | $4,370 |
| 4 Bedrooms | $5,050 |
| 5 Bedrooms | $5,858 |
| 6 Bedrooms | $6,561 |
| 7 Bedrooms | $7,086 |
| 8 Bedrooms | $7,440 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,620 | $227,088 | 1.15% | B |
| 2BR | $3,200 | $376,501 | 0.85% | C |
| 3BR | $4,370 | $516,681 | 0.85% | C |
| 4BR | $5,050 | $674,300 | 0.75% | D |
| 5BR | $5,858 | $1,225,904 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 33323, located in Plantation, FL, presents a nuanced rental market scenario. The median income here stands at $113,481, which is relatively high compared to the national average. However, the question of affordability hinges on the cost of living, particularly the rent. The market rate for rent, known as ZORI (Zillow Observed Rent Index), is set at $2,561. This figure represents the typical monthly rent that tenants pay in the area.
When juxtaposed against the Fair Market Rent (FMR) standard of $2,930, which is the amount that housing authorities are willing to pay through voucher programs, it becomes evident that there is a significant gap between what the market demands and what vouchers cover. The FMR is higher than the ZORI, suggesting that voucher holders might have an advantage when seeking accommodation in Plantation.
With 29.7% of the 23,589 population being renters, the competition among landlords is notable. Landlords must consider both the number of renters and their ability to pay the market rate. Given the median income, many households could potentially afford the $2,561 market rate without assistance. However, the allure of receiving the higher FMR payment from voucher programs makes these tenants particularly attractive.
The takeaway for landlords is clear: while there is a substantial pool of potential cash-paying tenants, the higher payment rates offered by voucher programs can provide a more stable and lucrative alternative. By accepting vouchers, landlords can tap into a segment of the market that offers a guaranteed income level, mitigating some of the risks associated with traditional rental agreements.
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.