Section 8 Fair Market Rent (FMR) for ZIP 33324 - 2027

Investment Score for ZIP 33324

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	$2,140
1 Bedroom	$2,320
2 Bedrooms	$2,830
3 Bedrooms	$3,870
4 Bedrooms	$4,460
5 Bedrooms	$5,174
6 Bedrooms	$5,795
7 Bedrooms	$6,259
8 Bedrooms	$6,572

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	$2,320	$167,917	1.38%	A
2BR	$2,830	$261,076	1.08%	B
3BR	$3,870	$419,408	0.92%	C
4BR	$4,460	$779,149	0.57%	F
5BR	$5,174	$1,636,259	0.32%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Market Analysis for ZIP Code 33324 (Plantation, FL) The ZIP code 33324, located in Plantation, FL, is situated within Broward County. With a population of 50,151, it has a significant rental market, with 41.8% of residents being renters. The occupancy rate stands at 89.4%, indicating that most units are occupied, which suggests a relatively stable demand for housing in the area. ### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for 2026 in ZIP 33324 is set at $2950 for a two-bedroom unit, which represents 41.6% of the median household income of $85,000. This indicates that the rent for a two-bedroom unit is considered affordable relative to the income levels in the area. However, the actual median rent for a two-bedroom unit on Zillow is $263,595, which translates to a monthly rent of approximately $2,196.46 when considering a typical mortgage payment. This is significantly lower than the FMR, suggesting that the FMR might be higher than what many landlords charge in the area. For voucher holders, the constraints include the fact that they can only use their vouchers for units that do not exceed the FMR. In this case, the FMR for a two-bedroom unit is $2950, but the actual market rent is lower at around $2,196.46. This means that voucher holders have a bit of flexibility in finding units within their budget, although the difference between FMR and actual rent is not substantial enough to significantly impact the number of available units. ### Affordability & Renter Profile Given that 41.8% of the population are renters and the median household income is $85,000, the affordability of housing is a key consideration. The FMR for a two-bedroom unit is $2950, which is 41.6% of the median income. This suggests that the majority of renters could afford a two-bedroom unit without needing assistance. However, the price-to-FMR ratio of 7.4x indicates that the cost of purchasing a home is much higher than renting, which could push some potential homeowners into the rental market. The market appears to be somewhat tight, given the occupancy rate of 89.4%. This high occupancy rate suggests that there is a strong demand for rental properties, and any oversupply would likely be quickly absorbed by the market. The relatively low rent compared to the FMR also supports the idea that the market is not oversupplied; otherwise, we would expect rents to be even lower. ### Investor Angle From an investor perspective, the ZIP code 33324 offers a potentially positive cash flow scenario for those focusing on Section 8 vouchers. The FMR for a two-bedroom unit is $2950, while the actual median rent is around $2,196.46. This means that landlords who accept Section 8 vouchers can command a higher rent, closer to the FMR, which could result in better cash flow compared to market rates. However, the investment grade would depend on several factors, including the ability to find units that meet the quality standards required for Section 8 participation, the competition from other landlords, and the overall demand for rental properties. Given the high occupancy rate and the relatively low market rent, the demand for rental properties is likely strong, making it a good investment opportunity. ### Specific Actionable Insights 1. **Targeting Two-Bedroom Units**: Investors should focus on acquiring two-bedroom units, as these are the most common type of units rented out in the area. The FMR for a two-bedroom unit is $2950, which is 41.6% of the median household income. This makes it a highly sought-after size for both voucher holders and regular renters. 2. **Quality Standards**: To participate in the Section 8 program, units must meet certain quality standards. Investors should ensure that their properties are well-maintained and up to code to avoid losing potential tenants who rely on vouchers. This includes addressing any issues with plumbing, electrical systems, and general maintenance. 3. **Rent Pricing Strategy**: Landlords should consider pricing their units slightly below the FMR to attract both voucher holders and non-voucher tenants. For example, setting the rent at $2,800 for a two-bedroom unit would still be above the actual median rent but below the FMR, making it attractive to voucher holders and competitive in the broader market. ### Bottom Line For Section 8-focused investors, the ZIP code 33324 presents a favorable market. The high occupancy rate and the relatively low market rent suggest that there is strong demand for rental properties. Additionally, the FMR is set at a level that allows for reasonable cash flow, especially if the units are priced slightly below the FMR. Therefore, the recommendation for investors is to **Buy** properties in this ZIP code, particularly two-bedroom units, as they align well with the needs of both voucher holders and regular renters.

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.